Private investment in car companies is all the rage these days, so it’s no surprise to see equity firms circling the Land Rover and Jaguar sales like vultures. The last firm to express its interest is TPG, an American firm that owns stakes in MGM, Neiman Marcus, Alltel Wireless and is even considering a purchase of Qantas, Australia’s biggest airline. The only other automotive asset owned by TPG is the motorbike manufacturer Ducati.

The purchase of both companies would be a drop in the pond for TPG, which has the brains and cash to turn both around. A Ford spokesman was quoted as saying “we’ve been here a long time. We understand our responsibilities toward our businesses and our employees” earlier this week. Ford retained a small share in Aston Martin when it sold the firm earlier this year, and it’s expected they’ll do the same with Land Rover and Jaguar.

Ford has said it will make an announcement next week regarding the future of the companies and will select two bidders that will begin their due diligence soon.