Hicks, Muse Tate & Furst has just three portfolio companies left in its €1.5bn ($1.77bn) European fund following the sale of Aster City Cable, a Polish communications group, to east European rival Mid Europa Partners.

The sale of the company, Poland's first to offer television, broadband internet and telephony services, will generate just under €275m for Hicks, Muse or 4.8 times the amount it invested.