According to Sky News, the firms are among those who have submitted indicative offers for the group over the last few days.
Sources told Sky that other parties had also put offers on the table, with bankers reportedly suggesting that KSL Capital Partners, an investor in UK leisure assets, may have also tabled an offer.
It comes as Butlin’s is being sold by Bourne Leisure, whose owner, private equity giant Blackstone, appointed Rothschild last year to hold an auction of the chain.
Blackstone had previously bought Bourne in a deal that valued the group at about £3bn. Butlin’s meanwhile is said to be worth around £600m.
TDR Capital has been contacted for comment.