The planned exit, which comes nearly two years to the day that it bought the then struggling Dick Smith from Woolworths, will translate into a profit return for Anchorage of $3.5 million a week.

It was reported by Fairfax Media on Monday night that Anchorage was selling its 20 per cent Dick Smith stake through a block trade organised by its broker and adviser Macquarie Capital, which was offering 47.3 million Dick Smith shares at $2.22 per share.

A broker involved in the sale told Business Day there was a broad range of interest from across the funds management community to snap up stock in Dick Smith.

The sale price is against Dick Smith's closing price on Monday of $2.29.

Despite the turmoil and tough trading conditions that have gripped the retail sector, especially after the federal budget in May and falling consumer confidence, Dick Smith has performed well.

Dick Smith unveiled its maiden full-year profit last month, reporting a net result of $42.1 million for the year to June 2014 – 5.3 per cent ahead of its prospectus forecast, and at the time said Anchorage had appointed Macquarie to advise it on the future of its stake with many in the market assuming the parcel of shares would soon be sold.

Anchorage said that at the share price in August, around $1.90, it was not a seller, but since then Dick Smith has bounced along to north of $2.30 and it seems the temptation was too much for the private equity player.

Anchorage bought Dick Smith in September 2012 for $94 million and after a quick repair job floated it on the sharemarket in December last year in a $344 million IPO. Including a dividend of $15 million, Anchorage made a sweet profit of $264 million on the entire deal and still had its 20 per cent stake in its back pocket.