1.   

On 13 November 2020, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

—	Canada Pension Plan Investment Board (‘CPPIB’, Canada),

—	Sixth Street Partners (US)

CPPIB and Sixth Street Partners acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of a newly created company constituting a joint venture (‘Clara’).

The concentration is accomplished by way of purchase of shares.

2.   

The business activities of the undertakings concerned are:

—	CPPIB is a professional investment management organisation based in Canada,

—

Sixth Street Partners is a global investment firm that operates eight diversified, collaborative investment platforms in growth investing, adjacencies, direct lending, fundamental public strategies, infrastructure, special situations, agriculture and liquid credit, with offices in the US, UK, Luxembourg, China and Australia;

—	Clara is a commercial consolidator of defined benefit pension schemes in the UK.

3.   

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

4.   

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.10005 — CPPIB/Sixth Street/Clara

Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Fax +32 22964301

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË