Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

1.On 13 November 2020, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which Canada Pension Plan Investment Board ("CPPIB") intends to acquire indirect joint control over Clara-Pensions Group Limited (“Clara”), which is currently indirectly controlled by certain funds managed by or advised by affiliates of Sixth Street Partners, LLC (“Sixth Street”).

The business activities of the undertakings concerned are as follows:

2.1CPPIB is a professional investment management organization based in Canada that invests the funds transferred to it by the Canada Pension Plan Fund ("CPP Fund") that are not needed by the CPP Fund to pay current benefits on behalf of 20 million contributors and beneficiaries.

2.2Sixth Street 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. Sixth Street has offices in San Francisco, New York, London, Hong Kong, Dallas, Houston, Luxembourg, Melbourne and Boston and has invested in a wide range of sectors, including business services, consumer and internet, energy, healthcare and life sciences, real estate, renewables, retail, software and technology and telecom and media.

2.3Clara is a commercial consolidator of defined benefit (DB) pension schemes in the UK.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

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