Citigroup (C) and JPMorgan Chase (JPM) are running a sale process for Bain Capital's stake in Bridge Data Centers, CNBC reported Wednesday, citing two people familiar with the matter.

The banks have sent out preliminary marketing materials to investors to sell up to a 70% stake in Bridge Data Centers, the report said, adding that the size of Bain Capital's stake is not publicly known.

Bain Capital is also exploring a potential continuation fund that would allow the private equity firm to own a stake in Bridge Data Centers for longer, while also bringing in new investors, one of the sources said, according to CNBC.

Deliberations are at an early stage, and no final decision has been made, sources reportedly said.

Citigroup, JPMorgan, and Bain Capital did not immediately respond to MT Newswires' request for comment.

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