Carlyle Group has made a three times return on its last remaining investment from its first European technology fund as it seeks to raise €500 million for its next vehicle.

The buyout firm said it has sold a majority stake in KCS.net, one of the largest sellers of Microsoft Dynamics software in Austria, Germany and Switzerland, to Seattle-based technology services firm Avanade. Avanade is owned by technology and outsourcing company Accenture.