Marc Bolland, the former chief executive officer of Marks and Spencer, will join Blackstone to head its private equity business's European portfolio.
Mr Bolland, 57, will join the investment firm on September 19th, the company said on Tuesday.
In addition to leading M&S for six years, Bolland was previously CEO Morrisons and chief operating officer of Heineken.
The executive left M&S in April, succeeded by general-merchandise head Steve Rowe, after he failed to revive the British grocery store chain's clothing business.
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He was paid £2.04 million in his last year on the job, according to the company’s annual report.
- Bloomberg
