All eyes last week were on a private equity consortium that made its interest known in Sainsbury's. It turned out that Clifford Chance won the instruction from the consortium, which comprises Blackstone, CVC Capital Partners and Kohlberg Kravis Roberts (KKR). Clifford Chance global head of private equity James Baird has a tight relationship with CVC, including leading the advice for the private equity house's £3bn bid for Ladbrokes last year. Baird is leading the team alongside corporate partners David Pudge and Guy Norman. Although no formal approach has been made, Sainsbury's' property portfolio alone is believed to be worth £7.5bn, and many analysts are predicting a bid of at least £10bn from the consortium. The interest comes as a binding agreement stopping Lord Sainsbury from selling the remainder of his holding expires at the end of the month. Linklaters traditionally advises Sainsbury's.