Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 9.12.2022  
C(2022) 9387 final  
PUBLIC VERSION 
Norges  Bank Investment Management 
Bankplassen 2 
P.O. Box 1179 Sentrum  
0107 Oslo  
Norway  
 
Public Section Pension Investment 
Board 
1250 René -Lévesque Blvd. West  
Suite 1400 
H3B 5E9 Montréal , Québec  
Canada  
Subject : Case M. 10952 - NBIM / PSPIB / CAPITAL PARK  
Commissio n decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 16 November 2022, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation,  by which Norges Bank 
Investment Management (‘NBIM ’, Norway ) and Public Sector Pension Investment 
Board (‘PSPIB ’, Canada ) acquire  within the meaning of Article 3(1)(b) and 3(4) of the 
Merger Regulation joint control of Longfellow Strategic Value UK I, LP (‘CPC 
Partnership’, United Kingdom ) and Longfellow Strategic Value UK II, LP (‘NewCo ’, 
United Kingdom ) by way of purchase of shares .3 
                                                 
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 b e used throughout this decision.  
2  OJ L 1, 3.1.1994, p. 3 ( the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 448, 25.11.2022, p. 35.  

2 2. The business activities of the undertakings concerned are  the followi ng: 
− NBIM is the investment management division of Norges Bank and carries out the 
day-to -day management of the Government Pension Fund Global on behalf of the 
Norwegian Ministry of Finance , 
− PSPIB is the pension investment manager of the pension plans of the Canadian Federal Public Service, the Canadian Forces, the Royal Mounted Police and the Reserve Force,  
− CPC Partnership holds a  100% interest in an office -led mixed use real estate 
development known as Capital Park, located in Cambridge, UK and will engage  
in leasing its real estate property to third parties in the UK,  
− NewCo will invest, operate and manage real property assets in the UK. Both CPC 
Partnership and NewCo will only be active in the UK .  
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(a ) of the  Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.
4 
4. 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 applic ation 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 366, 14.12.2013, p. 5.