Blackstone and its UK business Bourne Leisure are reportedly lining up a bid for holiday park group Parkdean Resorts.
Parkdean is currently owned by Canadian investment group Onex Corporation, which bought the business back in 2016 for £1.35 billion.
The Times reported that Blackstone and Bourne Leisure are working with Bank of America on a potential takeover.
Bourne Leisure operates a number of different brands in the UK market including Haven, a rival holiday park chain to Parkdean.
Blackstone completed a deal to buy Bourne Leisure in early 2021 for a reported £3 billion. Sky News reported in November last year that Blackstone was considering selling the Butlin’s brand.
Investor interest in the holiday park sector has been on the rise in recent years fuelled by the Covid-19 pandemic and a fragmented industry.
At the end of last year US-based real estate investment trust Sun Communities agreed to buy Park Holidays for £950 million and CVC-backed Away Resorts has bought a number of rivals including Aria Resorts and Coppergreen Leisure Resorts.
Blackstone declined to comment to The Times.