EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 30/10/2024

In electronic form on the EUR-Lex website under document number 32024M11747

EUROPEAN COMMISSION

Brussels, 30.10.2024 C(2024) 7752 final

PUBLIC VERSION

Cinven Capital Management (SFF) General Partner Limited Level Four, Mill Court, La Charroterie GY1 1EJ St Peter Port Guernsey

Platinum Ivy B 2018 RSC Limited Level 26, Al Khatem Tower, Abu Dhabi Global Market Square, Al Maryah Islan Abu Dhabi United Arab Emirates

Dear Sir or Madam,

(1)(1) On 8 October 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which (i) Platinum Ivy B 2018 RSC Limited (“Platinum Ivy”, United Arab Emirates), a wholly owned subsidiary of the Abu Dhabi Investment Authority and (ii) Cinven Capital Management (SFF) General Partner Limited (“Cinven SFF GP”, Guernsey) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Policy Expert Limited (“Policy Expert”, United Kingdom), currently solely controlled by Platinum Ivy, by way of purchase 3 of shares. ( )

(2)(2) The business activities of the undertakings concerned are the following:

–– Platinum Ivy: makes investments into the private equity asset class across various geographies, including the European Union,

1 ( ) OJ 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.

2 ( ) OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3 ( ) OJ C, C/2024/6299, 18.10.2024.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË – Tel. +32 22991111

–– Cinven SFF GP: part of Cinven, a private equity business engaged in the provision of investment management and investment advisory services to a number of investment funds.

(3)(3) The business activities of Policy Expert are the following: insurance provider active in the provision of non-life (motor, home and soon pet) insurance in the UK.

(4)(4) 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(a) and (c) of the Commission Notice on a simplified treatment for 4 certain concentrations under Council Regulation (EC) No 139/2004. ()

(5)(5) For the reasons set out in the Notice on a simplified treatment, 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 and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

4 ( ) OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).

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