Bain Capital, Advent looking to exit engg outsourcing co Quest Global

Private Equity firms Bain Capital and Advent International are looking to exit Quest Global Services, six years after investing in the engineering outsourcing firm. The two funds together own about 33% of the company. Singapore investment firm GIC which owns a 2-3% stake, may also join the exit, which is planned via a secondary sale to other financial investors. Investment banks JP Morgan and Barclays will initiate a formal stake sale process. ChrysCapital and True North were part of an investor consortium that picked up less than 10% stake in the company at a USD 1.8-Billion valuation last year. They are not exiting for now.