Jeffrey Ubben Goes Big on Dresser-Rand Group

His activist hedge fund firm held fewer than 700,000 shares of the industrial machinery company at year-end. Now it owns 6.6 percent. Here’s why.

Jeffrey Ubben’s ValueAct Capital has established a new core holding.

The San Francisco–based activist-focused hedge fund firm, which manages $13 billion in assets, disclosed earlier this week that it owns more than five million shares, or 6.6 percent, of Dresser-Rand Group, an industrial machinery company.

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