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, 15.2.2022  
C(2022 ) 1046 final 
PUBLIC VERSION  
Oxford Properties Group  
122 Leadenhall Street  
EC3V 4AB, London  
United Kingdom  
 
Pinebridge Benson Elliot LLP  
1 Bedford Avenue  
WC1B 3AU, London  
United Kingdom  
Subject : Case M .10604  – OXFORD  PROPERTIES / PINEBRIDGE BENSON 
ELLIOT / SIGMA  
Commission 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 21 January  2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Oxford Six Limited, part of the Oxford Properties Group (‘Oxford 
Properties’, Canada ) and PineBridge Benson Ellio t LLP (‘PBBE’, United Kingdom)  
acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control 
over the whole of the undertaking Sigma Capital Group Limited (‘Sigma’, United 
Kingdom) by way of contract or any other means .3 
2. The business  activities of the undertakings concerned are:  
 for Oxford Properties : the ownership, development and  management of r eal estate 
assets. Oxford Properties  is the real estate arm of OMERS  Admin istration 
                                                 
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 th is 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 54, 1.2.2022 , p. 8. 

2 Corporation , the administrator of the Ontario  Municipal Employees Retirement 
System Primary Pension Plan and trustee of the  pension funds , 
 
 for PBBE : a fund manager. PBBE is solely controlled by PineBridge Investments, 
L.P., (‘PineBri dge’), a private, asset manager , 
 for Sigma : a UK -based residential development  and urban regeneration specialist.  
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) and 5 (b) of the Commission Notice on a simpli fied 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 application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission  
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .