Apollo Management, the US private equity firm among those circling UK supermarket Sainsbury's and close to buying up property group Countrywide, is investing $3.1bn (€2.3bn) in a girls' accessories retail chain.

Apollo has agreed to buy Claire's Stores for $33 per share in cash. Claire's, which sells low-priced jewellery and accessories targeting young girls, hired Goldman Sachs in December to sell it. The auction reportedly attracted buyout houses Apax Partners, The Blackstone Group, Leonard Green & Partners, TPG, Kohlberg Kravis Roberts and Lee Equity Partners.