Carlyle Group LP (Nasdaq: CG) is selling off the last of its stake in Boston Private Financial Holdings Inc. (BPFH).

BP Holdco, an affiliate of the private equity firm, plans to sell an ownership stake of roughly 4.7 percent, or 3.8 million shares. That equates to about $42 million of stock in the Boston company through a secondary offering, Boston Private announced Tuesday.

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