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Case No COMP/M.6965 - CARLYLE/ ALPINVEST GROUP

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 17/07/2013

In electronic form on the EUR-Lex website under document number 32013M6965

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 17/07/2013 C(2013)4749 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying party

Dear Madam(s) and/or Sir(s),

Subject: Case No COMP/M.6965 – CARLYLE/ ALPINVEST GROUP Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004

1.On 20.06.2013 the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which by which the Carlyle Group ("Carlyle", United States of America), acquires within the meaning of Article 3(1)(b) of the Merger Regulation indirect sole control of AlpInvest Partners B.V. ("Alpinvest", the Netherlands), by way of purchase of shares.

The business activities of the undertakings concerned are:

-for Carlyle: the provision of alternative asset management services, through the management of funds that invest globally across four investment disciplines: corporate private equity (buyout and growth capital), real assets (real estate, infrastructure and energy), global market strategies (structured credit, mezzanine, distressed, hedge funds, and middle market debt) and solutions (private equity fund of funds program and related co-investment and secondary activities);

1OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision.

2Publication in the Official Journal of the European Union No C 183, 28.06.2013 p.31

Commission européenne, 1049 Bruxelles, BELGIQUE / Europese Commissie, 1049 Brussel - BELGIË. Telephone: (32-2) 299 11 11.

-for Alpinvest: the provision of fund management services, covering in particular fund investments, co-investments (direct minority shareholdings), secondary fund investments and investments in mezzanine debt.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(d) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation.

For the Commission (Signed) Alexander ITALIANER Director General

3OJ C 56, 5.3.2005, p. 32.

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