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Phoenix exits UK holiday-accommodations platform Travel Chapter

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Phoenix exits UK holiday-accommodations platform Travel Chapter

U.K. growth-focused private equity firm ECI Partners LLP bought out Travel Chapter from Phoenix Equity Partners Ltd.

Travel Chapter markets more than 5,000 properties for holiday leases in the U.K. through its flagship website and other domains.

Phoenix said the sale of its Travel Chapter stake delivered a 62% internal rate of return for investors in its 2016 fund. The private equity investor backs businesses with enterprise valuations of up to £200 million.