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Kerrisdale Capital Management
Kerrisdale Capital Management, founded by Sahm Adrangi in 2009, is a New York-based hedge fund known for research-driven short campaigns.
Kerrisdale Capital Management
Sahm Adrangi launched Kerrisdale Capital Management in 2009 after a stint at a long/short equity hedge fund. The firm is known for its event-driven approach, targeting companies it believes are mispriced, especially those with fraudulent or unsustainable business models. Wealth origin for the firm's capital is not publicly attributed to a single family. Kerrisdale invests across equities, with a focus on long/short and special situations. The firm publishes detailed investment theses, often targeting healthcare, technology, and consumer sectors. Notable short campaigns have included against companies like Achillion Pharmaceuticals and Valeant Pharmaceuticals International (per Bloomberg, 2015). Geographic focus is primarily North America, with some exposure to European-listed equities. Assets under management are undisclosed, and the firm does not disclose team size or additional offices beyond its New York headquarters. Kerrisdale operates as a standalone investment manager with no disclosed philanthropic or adjacent vehicles. In 2023, the firm published a short report on a clinical-stage drug developer that led to a significant stock decline (per Reuters, 2023). Kerrisdale’s structural differentiator is its transparent, research-driven activism: it publishes detailed short reports and engages publicly with management and regulators. This model relies on reputational capital and legal risk management, distinguishing it from quieter hedge funds.
General information
Firm type
Asset Manager
Year founded
2009
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Sahm Adrangi
Founder and Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Kerrisdale Capital Management?
Sahm Adrangi is the founder and Chief Investment Officer, responsible for all investment decisions at the firm. He has been the public face of Kerrisdale since its founding in 2009.
How does Kerrisdale Capital source proprietary deal flow?
Kerrisdale sources ideas through internal fundamental research, often identifying companies with accounting irregularities, unsustainable business models, or regulatory risks. The firm then publishes detailed reports to drive its investment theses.
Is Kerrisdale Capital structured as a family office or a hedge fund?
Kerrisdale is structured as a hedge fund, not a family office. It manages capital for external investors and is registered with the SEC.
Does Kerrisdale Capital participate in fund commitments or only direct deals?
Kerrisdale makes direct equity investments in publicly traded companies, typically taking both long and short positions. It does not act as a fund-of-funds or commit capital to other managers.
What investment stages does Kerrisdale Capital typically target?
Kerrisdale targets publicly traded equities, often focusing on event-driven opportunities such as litigation, regulatory decisions, or earnings surprises. It is not a venture or growth-stage investor.
What is Kerrisdale Capital's known posture on co-investments alongside external GPs?
Kerrisdale does not typically engage in co-investments with external general partners. It operates independently, publishing its own research and executing trades in the public markets.
Where does Kerrisdale Capital's underlying wealth come from?
The firm's capital comes from external investors; the specific sources of wealth for its limited partners are not publicly disclosed.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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