MidOcean Partners, the European and US private equity firm, has made more than three times its money on the sale of Center Parcs Europe, one of the showcase investments it bought when it spun out of Deutsche Bank earlier this year.

MidOcean sold its 45% stake in the European holiday villages chain to its trade buyer partner, Pierre & Vacances, a French holiday group, for €270m ($297m). A source close to the company said MidOcean tripled its initial investment within two and a half years. The deal came together over the past two months.