According to information obtained by News, Carlyle, which now manages assets valued at approximately $435 billion, is only now beginning to determine if investing in Thames Water Utilities Limited (TWUL) will be profitable.
With around 16 million customers, the largest water and wastewater provider in Britain is getting closer to bankruptcy after announcing in recent days that its financial liquidity will run out months sooner than expected.
Additionally, two reputable rating organizations have further reduced its credit rating, placing it in junk territory.
As Thames Water looks to raise almost £3 billion in the next several months, Rothschild, the investment bank advising the board, has reached out to a number of potential investors, including Carlyle.
People with knowledge of the proceedings confirmed this past weekend that Carlyle had been contacted, but they cautioned that it was “too early” to determine whether the company would use one or more of its funds to take part in a rescue package.
