Private equity fund Permira has pulled out of the casino industry in Macau after offloading all its shares in casino operator Galaxy Entertainment.

Permira

Europe-based Permira raised US$ 871.68m by selling 249.6 million shares (5.94 per cent of the company’s issued shares) at $3.50 each.

Permira sold 278.8 million Galaxy shares at $2.70 each in August this year and another 528 million shares in September last year.

The private equity fund has hugely gained from its investment in the Macau-based establishment, where it initially put in $842.5m in 2007 for a 20 per cent stake.