KKR has made a profit of more than 300% by selling its minority stake in The Hut Group during the online health and beauty retailer’s initial public offering on the London Stock Exchange.

US-based KKR sold its 20% stake for £448m just six years after investing £100m in the British e-commerce business. KKR’s intention to sell was revealed in an August statement. A spokesperson for KKR was not immediately available to comment today.