Buyout firm Permira has made nearly three times its money on an investment in a Macau casino operator, after selling its remaining 6% stake in the company today.
According to a person with knowledge of the situation, Permira made a 2.8-times return on its money after first buying 20% of Chinese company Galaxy Entertainment Group five years ago, in November 2007. Private equity deals in China typically see firms take a minority stake alongside the company's founders.
