Private equity fund KKR is offering £4 billion to take control of struggling utility Thames Water in the UK, according to a person familiar with the matter.

KKR & Co. offered to inject nearly £4 billion ($5 billion) into Thames Water for a majority stake in the beleaguered utility, according to people familiar with the matter.

U.S. private equity group KKR has offered nearly 4 billion pounds ($5 billion) to Britain's Thames Water for a majority stake in the utility, Bloomberg News reported on Wednesday, citing people familiar with the matter.

KKR has submitted a preliminary £4bn equity bid to take a majority stake in Thames Water, as the US private equity firm looks to position itself as the most credible potential owner of the debt-laden water provider.