Kerrisdale Capital Management

What Kerrisdale Capital Management does

Kerrisdale Capital Management is a private investment management firm founded in 2009 by Sahm Adrangi and headquartered at 600 5th Avenue, Suite 1020, New York. The firm operates as a research-oriented investment partnership that invests in public securities, with a stated AUM of approximately $250 million as of March 2026. Kerrisdale is best known for publishing contrarian, long-and-short equity research publicly — particularly short reports on fraudulent or overhyped companies — and for its early-2010s record of exposing fraudulent Chinese small-caps such as China Marine Food Group, China-Biotics, Lihua International, and ChinaCast Education. The firm also engages in activist investing, having engaged with Lindsay Corporation management and led proxy contests.

The firm's products are its investment research and its private investment vehicles. Its underlying 'technology' is fundamentally research methodology and idea generation rather than software; the firm's product surface consists of an 'Investments' blog featuring long/short theses with PDF research reports, a 'Commentary' section for case studies and market updates, and a gated investor portal that requires qualified-purchaser verification ($25M organization assets or $5M individual net worth). Distribution is through the firm's website, Twitter/X (@KerrisdaleCap), Seeking Alpha, and value-investing and activist-investor conferences (Sohn, Value Investing, Distressed Debt, Activist Investor). Operating geographies span the United States (New York headquarters and a Miami Beach corporate address), Europe (Germany, Italy), and Asia (China).

Kerrisdale generates revenue through traditional hedge-fund economics — management fees and performance fees on its private investment partnership — making it a recurring, asset-based revenue business whose earnings scale with AUM and fund performance. Customer segmentation is exclusively horizontal across qualified purchasers and institutional investors (hedge fund allocators, family offices, endowments, foundations, pension funds), with no public offering of investment products. The firm runs with a small core team of three principals — Sahm Adrangi (CIO/Founder), Edward Gu (CFO), and Peter Baer (Head of Marketing & Investor Relations) — supported by a small staff of 11-50 total employees, including a recently added VP of Product Management & IR.

Name

Kerrisdale Capital Management

Legal name

Kerrisdale Capital Management LLC

Website

https://kerrisdalecap.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Kerrisdale Capital Management is a privately held New York-based investment management firm founded in 2009 that publishes public research on long and short equity positions and manages approximately $250 million for qualified purchasers and institutional investors.

Ownership category

akta.pro rank

Product category

Hedge Fund / Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Fundamental/Discretionary Equity Long/Short (FSAHAAAA)

akta.pro secondary industry

Small-Cap Equity (Active) (FSAAAIAC)

Keywords

• Long short equity
• Event driven investing
• Activist short selling
• Public equity research
• Special situations fund

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Management Fees: The firm generates revenue through management fees and performance fees from managing the investment partnership. As a private investment partnership, they serve qualified investors who meet regulatory requirements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Kerrisdale Capital Management is a private investment partnership that invests in public securities through long and short positions, charging management and performance fees to qualified purchasers and institutional investors. The firm funds its research-first approach by publishing contrarian investment theses on selected long and short ideas through its Investments blog, Commentary section, Seeking Alpha, and Twitter, and by engaging in activist and event-driven situations where it believes market consensus is misguided.

Product overview

Kerrisdale Capital Management is an investment management firm that publishes research on long and short investment opportunities. The company does not offer a traditional product suite but provides investment research through its website, including an Investments blog featuring research reports and a Commentary section for market commentary and case studies. Access to detailed investment research requires registration and login.

Differentiator

Problem solved

Functional benefit

Products and services

• Kerrisdale Capital Private Investment Partnership A private investment partnership that invests in public securities via long and short positions with an event-driven and special-situations orientation, available only to qualified purchasers and institutional investors. Investors access the fund via a gated investor portal with verification of accredited/qualified-purchaser status.
• Public Investments Research (Investments Blog) Long-form public research reports and theses on long and short equity ideas published on the Kerrisdale Investments blog, including full research reports and PDF downloads covering selected misunderstood and special-situation names.
• Market Commentary and Shareholder Letters (Commentary section) Public commentary, company updates, shareholder letters, and case studies on various investment topics published on the Kerrisdale Commentary blog.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Hindenburg Research: Activist short-selling research firm that publishes forensic investment reports on public companies, often targeting alleged fraud. Closely comparable to Kerrisdale in publishing contrarian research to drive both alpha and LP fundraising.
• Muddy Waters Research: Activist short-seller founded by Carson Block that publishes forensic research on public companies, particularly those with Chinese or emerging-market exposure. Highly comparable to Kerrisdale's fraud-detection niche and research-first marketing approach.
• Citron Research: Long-running activist short-selling research firm publishing single-name short and long theses. Shares Kerrisdale's model of using public research to drive both positioning and LP acquisition.
• Scorpion Capital: Activist short-seller publishing detailed forensic reports targeting consumer and healthcare companies with alleged fraud or fundamental issues. Operates a near-identical research-publication business model to Kerrisdale.
• Grizzly Research: Activist short-selling research firm publishing single-name bearish reports on public companies. Directly comparable to Kerrisdale in target audience (retail and institutional), publication format, and forensic-investigation focus.
• Iceberg Research: Short-selling research firm with a particular focus on European and Asian-listed companies. Comparable to Kerrisdale as a forensic short research publisher serving institutional LPs.
• White Eagle Capital Partners: Event-driven global institutional money manager where Kerrisdale CFO Edward Gu previously served as Principal/CFO/CCO. Operates in the same event-driven long/short category as Kerrisdale at similar small-to-mid scale.

Broad incumbents

• Greenlight Capital: Established fundamental equity long/short hedge fund run by David Einhorn. Operates in the same discretionary value-driven long/short category as Kerrisdale but at materially larger AUM and broader sector coverage.
• Pershing Square Capital Management: Activist-oriented concentrated long/short fund run by Bill Ackman. Comparable to Kerrisdale's activist tilt and willingness to engage management/boards, but operates at multibillion-dollar AUM scale.
• Baupost Group: Multi-strategy value-oriented investment manager with event-driven, distressed, and long/short capabilities. Overlaps with Kerrisdale's event-driven special situations focus (Seth Klarman's firm is a peer in fundamental value/event-driven).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/KerrisdaleCap
• LinkedInlinkedin.com/company/kerrisdale-capital-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kerrisdale Capital Management