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 -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  21.2.2022  
C(2022) 1157 final  
 
PUBLIC VERSION  
Warburg Pincus LLC  
450 Lexington Avenue  
New York, NY 10017  
United States of America  
 
Oxford Properties Group  
One Raffles Quay, #41 -01 North 
Tower                                                
Singapore 048583  
Subject : Case M. 10601 – WARBURG PINCUS / OXFORD PROPERTIES / HALE  
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 26 January 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Warburg 
Pincus LLC ( ‘‘Warburg Pincus ’’, USA) and Oxford Properties Asia Holdings I Pte. 
Ltd. (‘‘Oxford Properties ’’, Canada) acquire within the meaning of Article 3(1)(b)  of 
the Merger Regulation joint  control over the whole of Hale Capital Group Pty Ltd 
(‘‘Hale ’’, Australia) by way of purchase of shares .3 
2. The business activities of the undertak ings concerned are:  
 for Warburg Pincus: a global private equity firm active in a variety of sectors, 
including consumer, energy, financial services, healthcare, industrial and business 
services, real estate and technology.  
                                                 
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  Publication in the Official Journal of the European Union No C 69, 10.2.2022 , p. 13. 

2  for Oxford Properties: the owners hip, development and managing of real estate 
assets. Oxford Properties belongs to the real estate arm of OMERS 
Administration Corporation, the administrator of the Ontario Municipal 
Employees Retirement System Primary Pension Plan and trustee of the pensio n 
funds.  
 for Hale: the development and managing of a portfolio of industrial real estate 
investments in the Asia -Pacific region.  
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 (b) 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 applicat ion of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commissio n 
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .