Advent had explored offer for Britain's JTC, sources say

By Amy-Jo Crowley and Milana Vinn

Advent International had been exploring a possible bid for British fund administrator JTC JTC, according to two people familiar with the matter, potentially adding to a bidding war for the business.

Advent in recent days has put a hold on its work after shares in the London-listed business jumped, according to one of the people speaking on condition of anonymity because the matter is private.

The private equity group would have been bidding against rivals Warburg Pincus and Permira International, which both submitted proposals for the Jersey-headquartered group in recent weeks.

Reuters could not establish whether Advent could resume its work.

Spokespeople for Advent and JTC declined to comment.