Bidders are through to the second round for NSW's Land and Property Information unit and readying final offers in time for the late March deadline.
It is understood NSW Treasury and advisers JPMorgan have opened the second stage dataroom and have prepared bidders for management meetings following Australia day.
The heavyweight groups - Macquarie's MIRA with Link, Borealis with its portfolio company Teranet and Computershare and the Hastings Funds Management-led consortium - are each believed to be through to the second and final stage.
Private equity hopefuls Affinity Equity Partners and The Carlyle Group are also said to remain involved.
Up for grabs is the right to run NSW's land titles and registry unit for the next 35 years.
NSW LPI had 885 employees at the end of the 2016 financial year and registered 935,000 documents in the 12-month period. The unit was first marked as a privatisation candidate in late 2014 and the contract is expected to be worth up to $2 billion.
The potential privatisation is not without its critics. However, it is understood interested parties have been reassured that the NSW government remains committed to the process.
It is expected to come to market with $180 million to $200 million in annual revenue and profits in the $120 million to $140 million a year range.
