GTCR Acquires Majority Stake in Worldpay for $18.5 Billion
Private-equity firm GTCR has announced its largest deal ever, with the planned $18.5 billion buyout of payments processing company Worldpay. GTCR will own 55% of the company, while FIS will own the remainder. GTCR will use funds from its recent $11.5 billion fund and its $7.9 billion Fund XIII for the equity in the transaction. The deal is seen as a positive sign for the private-equity industry, as major banks are showing renewed interest in financing large-scale buyouts.