Silverfleet Capital has made its first deal from its €850 million second fund by buying a majority stake in Danish fashion brand the Masai Clothing Company, as European retail buyouts surged to a four-year high in the first half.

The firm said it will acquire its stake from Masai's brother and sister founders, Hans and Nina Rye, who will exit completely. Masai's management, led by chief executive Sune Bjerregaard, will acquire a minority interest in the business, which has about €105 million of retail sales globally.