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The Morning Brief: ValueAct Raises its Stake in KKR

The hedge fund purchased KKR’s shares for around $18 to $20 each, according to a regulatory filing.

KKR & Co.’s stock jumped about 2.8 percent Tuesday to close at $18.64 after ValueAct Capital disclosed it boosted its stake in the private-equity firm to 6.1 percent, or more than 28 million shares. The hedge fund bought the bulk of them from June 22 to August 21 for around

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