Private equity firm Navis Capital Partners said on Wednesday its Navis Asia Fund IV has sold its stake in Chinese garment label firm Trimco International to Switzerland's Partners Group, making a 10-fold return.

"Navis acquired its majority stake in Trimco back in 2005 for a total equity cost of $11.1 million, and the investment has generated an aggregate equity amount returned to Navis of $111.4 million in exit proceeds and dividends received over the seven-year holding period," Navis said in a statement.

Trimco, which was founded in Hong Kong, services garment manufacturers in China, India and Southeast Asia.