Two investment funds that helped rescue Central Pacific Financial Corp. several years ago have taken another step to lighten their investment by selling another large chunk of stock in the Hawaii financial institution.

Central Pacific announced Thursday that ACMO-CPF LLC and Carlyle Financial Services Harbor LP sold 1.5 million shares each in the banking firm to Citigroup Inc.

The sale was completed Thursday for an undisclosed price. Citigroup intends to resell the stock. Shares of Central Pacific stock that trade on the New York Stock Exchange closed at $23.76 Thursday. Shares over the last 52 weeks have closed as high as $25.11 on March 16 and as low as $17.35 on Aug. 20.

The cash-out by ACMO and Carlyle represents the latest in a series of what Central Pacific calls an “orderly disposition” of its stock by the two firms, which remain Central Pacific’s largest shareholders.

The two funds were primarily responsible for keeping Central Pacific afloat when they provided the bank with a $189 million capital infusion in exchange for shares in February 2011. The bank ultimately attracted a total of $345 million for its recapitalization.

At the time of the cash infusion, ACMO and Carlyle each owned about 25 percent of Central Pacific. Following the latest sale, the two firms each have 8.8 percent stakes.

The latest sale followed a sale of 3.8 million shares in April by the two firms. An initial sale of 1.4 million shares was made by the funds in April 2014.