A large stake in online fashion retailer Missguided could be snapped up by an investor in the likes of Bensons for Beds, BusinessLive understands.
London-based Alteri Investors, which itself is backed by the private equity giant Apollo Global Management, is in talks with the Manchester company.
Apollo Global Management was most recently in the news after it considered launching a bid to takeover Morrisons.
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It is also understood that any investment from Alteri Investors into Missguided could be worth tens of millions of pounds.
Missguided was founded by Cheshire-born Nitin Passi in 2009. In its most recently available accounts, for the 12 months to the end of March 2020, the company achieved a turnover of £201.9m and pre-tax losses of £8.2m.
The Trafford Park-headquartered company is due to file its next set of accounts by the end of December.
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Missguided is one of many online fashion companies based in Greater Manchester including the likes of Boohoo and In The Style, which floated on AIM earlier this year.
Alteri Investors declined to comment when approached by BusinessLive. Missguided could not be reached for comment.
Mr Passi's fortune was estimated at £250m in the 2018 edition of The Sunday Times Rich List but he did not feature in the most recent list which was published earlier this year.
