hsbc considering bid also

Kohlberg Kravis Roberts (KKR), a US private equity firm, is looking at troubled Australian investment group Babcock & Brown Ltd, the UK's Independent on Sunday reported.

Citing an infrastructure industry source, the newspaper said KKR had contacted sector specialists in Sydney to find out more about Babcock. "It is rumoured that HSBC has done the same," it added.

The source told the paper KKR was interested in Babcock because it wants to invest the money it is raising for a global infrastructure fund, announced last month