Thailand-based Lakeshore Capital Partners Co. Ltd. is reported to have sold its entire stake in Santa Fe steakhouse to Singha Corp. Co. Ltd. for US$50 million, DealStreetAsia reported, citing confirmation from a senior executive.

The exit generated a 2.75x return.

Lakeshore Capital first invested in the steakhouse chain's operator KT Restaurant in early 2015, the report noted, citing International Legal Counsellors Thailand, which advised on the deal.

The branches of Bangkok-based Santa Fe are mostly in the capital city. It also has a restaurant in Phnom Penh, Cambodia.

Lakeshore Capital focuses on growth businesses in Thailand and the Greater Mekong subregion, according to its website.