In order to back up its plan to acquire BlackBerry Ltd at USD4.7 billion, Fairfax Financial Holdings Ltd is currently seeking about USD1 billion in equity investments. This was reported by the Globe and Mail last Wednesday.

The report cited anonymous individuals with knowledge of the discussions, who said Fairfax CEO Prem Watsa had contacted a number of leading Canadian and US pension and equity fund managers to gain support for its bid to takeover the smartphone maker. The sources further said that only one pension find, the Ontario Teachers' Pension Plan was considering to join the bid for the smartphone manufacturer.

The paper mentioned Watsa was making pitches at the potential acquisition as a leveraged buyout to be financed with more than USD3 billion worth of bank loan, USD1 billion in equity investments from institutions and the 10% shareholdings of Fairfax in BlackBerry.

If the company fails to complete the equity requirements to finance the takeover, Fairfaz is also lining up a short term bridge loan to be repaid with BlackBerry's cash holdings worth USD2.6 billion. 

Fairfax had offered USD9 per share for BlackBerry totalling USD4.7 billion.