UBS has emerged as adviser to Permira and Apax, the private equity groups involved in the Trinitybrook consortium which has made a recommended £699m (€1bn) bid for New Look, the UK fashion retailer.

New Look's independent directors, advised by Cazenove and Citigroup, recommended a 348p per share offer from Trinitybrook, whose other members include Tom Singh, New Look's founder and largest single shareholder with a 27% stake, and some senior management.