SahmAdrangi: Investing When It Matters
Most hedge fund managers raise money for specific investments purposes such as to back up an investment or to support a recovery. Raising funds to short a stock is not as popular among fund managers.
Kerrisdale Capital Management led by SahmAdrangi raised up to 100 million dollars to short a stock for an unveiled public company. Sahm approximated the company’s net worth at 10 billion dollars. Together with the team at Kerrisdale, he explained provided the market insights on the future performance of the company to the investors. Mr. Adrangi posted the information on the investment on the Kerrisdale website.
In May 2016, the identified company was unveiled. New York based Kerrisdale Capital Management began buying the stock before then to establish itself in the business. The fund management firm currently manages over 500 million dollars. It specializes in shorting against companies. Previously, it has bet against companies such as Globalstar, Zafgen and Sage Therapeutics. Kerrisdale’s annual return on the investments has averaged 28% annually over the past five years.
SahmAdrangi founded Kerrisdale Capital Management in 2009. He is the Chief Investment officer and oversees the general operations of the firm. Sahm is an activist for short research and has established himself as shorting expert. He has a B.A in Economics from Yale University. Adrangi first worked with Deutsche Bank as an analyst between 2004 and 2005. While at Deutsche, he was instrumental in the structuring of high yield bond, financial buyouts and non-investment grade bank debts.
He joined Chanin Capital Partners in late 2005 as a bankruptcy restructuring analyst. At Chanin Capital, he represented creditors, bank debt holders, select equity committees and bondholder committees. He helped clients design chapter 11 and out of court bankruptcy restructuring. In 2007, he worked with Longacre Fund Management as an analyst and researcher for the company’s credit and equity fund. At the time, Longacre managed over assets valued at over 2 billion dollars. At Kerrisdale, SahmAdrangi focuses on the long term and specific event-driven investments. He also leads the team to encourage activism within the sector by providing useful resources and information through blogs and articles.