Reuters received some important information from a person who was familiar with a situation regarding the plans by the Kerrisdale Capital Management. Kerrisdale Capital Management was founded by Sahm Adrangi. The company has already gathered a large amount of capital, approximately $100 million, from investors planed to be used in betting against a single stock. This amount is the first of its kind to be raised by the company from the co-investors.
It is not uncommon for hedge fund managers to raise large amounts as such on the basis of investing on a particular investment. They would have such amount to help revive a distress energy company or even come into the aid of mortgage security issues. However Kerrisdale Capital Management Company on the contrary is planning to use the amount for shorting the capital of a public company that is upcoming.
As reviewed by the Reuters, the email that Adrangi wrote to the investors reported on how they managed to persuade the alternative communities by them raising such a big amount of money within a very short period of time. Additionally, Adrangi says they have been able to take the $10 billion worth company and are working towards convincing the people on understanding their plans for it. Adrangi is working hand in hand with Shane Wilson, Kerrisdale analyst to come up with a report, website, video and many other items of convincing the people.
According to the person, the company Kerrisdale targets is planned to be opened in the mid-May. Moreover, Kerrisdale has already begun establishing its position in the company as it has started buying stock. After raising the current amount, the company now manages around five hundred million dollars. Kerrisdale is a company with the business of betting against companies. Some of these companies include Satellite Company Globalstar and Sage Therapeutics and Zafgen.
Sahm, the chief investor at Kerrisdale Capital Management is the founder of the company involving himself in all steps in its growth and development. The company has grown from the starting amount that was well under one million Dollars to around one hundred fifty million dollars by July 2017.
Read More: www.linkedin.com/in/sahm-adrangi-3548541