Goldman Sachs Merchant Banking Division

Goldman Sachs Merchant Banking in its $1.13 billion acquisition of People Corporation


Goldman Sachs Merchant Banking Division


$1.13 billion


Mergers and Acquisitions

Date Closed

February 2021


Banking and Financial Services

Lead Office



On December 14, 2020, Goldman Sachs Merchant Banking Division (MBD) entered in an agreement to acquire People Corporation for a value of $1.13 billion. The acquisition will position People Corporation’s to grow and expand its opportunity to further enhance the delivery of market-leading solutions to its clients; through talent, technology, group benefits, group retirement and HR solutions to each client engagement, all delivered by consultants across a national platform.

Goldman Sachs MBD is the primary center for the firm's long-term principal investing activity. Goldman Sachs MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

People Corporation is a leading provider of group benefits, group retirement and human resource services with professionals serving organizations across Canada.

Osler, Hoskin & Harcourt LLP advised Goldman Sachs MBD with a team consisting of Jeremy Fraiberg, Don Gilchrist, Kai Sheffield, Kevin Feng, Tiye Traore (Corporate), Dov Begun, Taylor Cao (Tax), Victoria Graham, Michelle Lally (Regulatory), Andrea Boctor, Olivia Suppa (Pensions), Lisa Mantello, Britt Sargent, Jasmyn Lee, Laura Mila (Financial Services), Brian Thiessen, Shaun Parker, Brianna MacEachern (Employment), Joanna Fine, Komil Joshi (Privacy), Josh Disenhouse (Real Estate), Kelly Moffatt (Intellectual Property), Ted Liu and Zain Hemani (Technology).