Carlyle Group plans to sell its remaining stake in China’s third-largest insurer, China Pacific Insurance (Group) Co Ltd., in a deal valued at up to $790 million, marking the U.S. private equity fund’s most profitable exit ever from an investment, Reuters reported.

After several selldowns of its stake in the last two years, Carlyle will net a more than $4 billion profit on the deal, or four times the cash it paid.

Reuters article: http://www.pehub.com/179658/reuters-carlyle-scores-best-profit-ever-cpic-exit/