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The Morning Brief: Nelson Peltz's Trian Takes Stake in Pentair

Nelson Peltz’s Trian Fund Management has disclosed a new activist position. The New York hedge fund firm says it owns 7.24 percent of Pentair, a diversified industrial manufacturing company. In the filing, Trian stresses that it has “engaged in constructive discussions” with senior management, asserting it could build “significant value” in part by deploying a roll-up strategy “by facilitating prudent industry consolidation through accretive mergers and acquisitions.”

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Chicago-based Balyasny Asset Management boosted its stake in ChemoCentryx, which develops medicines for autoimmune and inflammatory disorders, to nearly 2.2 million shares, or slightly more than 5 percent of the total outstanding of the small biotech firm.

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Daniel Och’s OZ Management, run out of New York-based multistrategy firm Och-Ziff Capital Management, raised its stake in Zebra Technologies Corporation to more than 2.7 million shares, or 5.24 percent of the total outstanding. At the end of the first quarter, Och-Ziff owned about 2.45 million shares of the maker of printing technologies such as thermal barcode labels.

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John Griffin’s New York-based Blue Ridge Capital disclosed that it owns 3.5 million shares of Fitbit, or 8.32 percent of the maker of fitness products.

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Mariner Investment Group has named Dmitry Green as chief risk officer. He was previously managing director and CRO at Saba Capital Management. Prior to Saba, Green was head of risk management at BlueMountain Capital Management. New York-based Mariner manages about $13.5 billion, including direct and affiliated single and multistrategy hedge funds, funds of funds and other alternative investments services.

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