KKR & Co. Inc. (NYSE:KKR) and Ontario Teachers' Pension Plan Board are understood to have tapped advisory firm Gresham in their efforts to buy the $2 billion Australian telecoms towers portfolio from Singtel Optus Pty Limited. Already, the consortium, which also includes the Queensland Investment Corporation (QIC Limited), is working with investment bank Citi.

Apparently, a large group - potentially 30 parties - are expected to put forward first-round bids, but the plan from adviser Bank of America is to shortlist only a select few groups in the second stage given the workload required for a vast number of proposals. The KKR group is going head to head with Stilmark Holdings Pty Ltd, backed by Canada-based OMERS Infrastructure and ATN International, with that group advised by Royal Bank of Canada and Q Advisors. The Crown Castle business Axicom Pty Ltd, owned by Macquarie Infrastructure and Real Assets, is also believed to be interested and is working with Credit Suisse and Macquarie Capital, while HRL Morrison & Co Limited (Morrison & Co) and the Future Fund are being advised by Barrenjoey Capital.

Lendlease Group (ASX:LLC) is also understood to be lining up with help from adviser Morgan Stanley.