Sainsbury Billionaire Bets $337 Million on Private Equity Funds

The investment firm for one of the world’s biggest retail fortunes is boosting its private equity bets after stepping back from public markets.

David Sainsbury, whose great-grandfather founded supermarket chain J Sainsbury Plc, plans to put as much as 253 million pounds ($337 million) into private equity funds through his family office, Innotech Advisers, according to a U.K. registry filing.

The London-based firm already had more than 400 million pounds allocated to managed funds in the sector at the end of last year, when its investments had a market value of 1.1 billion pounds, the filing showed.

David Sainsbury

Photographer: Thierry Monasse/AFP/Getty Images