First Data said it will use the private placement which included a $2bn investment from new investors and $1.5bn from its existing backers to reduce its debts.
The new investors include pension funds, mutual funds, asset managers and high net worth individual investors.
KKR contributed around $1.2bn including $500m from its 2006-vintage fund and $700m from its balance sheet.
As a result of the deal, KKR’s balance sheet will have around $1bn invested in First Data.
Co-CEO and co-chairman of KKR Henry Kravis said, “We are pleased to be joined by several investors who saw, as we do, that Frank’s team is able to successfully combine First Data’s existing unique assets with cutting-edge technology that we believe will take the company to the next level in the months and years ahead.
“Over the last year, the company has made great strides to solidify its role as a provider of solutions to its clients who span the globe.”
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