Goldman Eyes Pension Funds For Support [In "Canadianizing" Their Inves
Date: Saturday, January 13 2007
ANDREW WILLIS and GRANT ROBERTSON AND ERIC REGULY
Globe and Mail Update
Wary of regulatory opposition to its planned $2.3-billion takeover of Alliance Atlantis Communications Inc., powerhouse New York investment bank Goldman Sachs Group Inc. plans to invite some of Canada's biggest pension funds into the leveraged buyout.
Goldman's private equity arm, GS Capital Partners LP, has already partnered with CanWest Global Communications Corp. on the Alliance purchase, and investment banking sources say that starting next week, the biggest domestic money managers will be invited in.
Goldman's motivation in selling a portion of its planned 83-per-cent equity stake in the Alliance TV channels is entirely driven by a need to “Canadianize the deal,” said one investment banker familiar with the transaction, as the U.S. fund has the financial muscle do the deal on its own. “You'll see discreet calls to the big Canadian players,” said another financier close to Goldman.