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,  28.2.2022  
C(2022) 1350 final  
PUBLIC VERSION 
Welput  
BentallGreenOak  
7 Seymour Street  
London W1H 7JW  
United Kingdom   
 PSPIB  
8th Floor  
10 Bressenden Place  
London SW1E 5DH  
United Kingdom   
 
Alecta  
Regeringsgatan 107 
103 73 Stockholm  
Sweden  
Subject : Case M. 10621 – WELPUT / PSPIB / ALECTA / 150 VSTREET JV  
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 3 February 2022, the European Commission received notification of a proposed 
conc entration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings West End of London Property Unit Trust (“Welput”, Jersey), the Public 
Sector Pension Inve stment Board (“PSPIB”, Canada), Alecta Tjänstepension 
Ömsesidigt (“Alecta”, Sweden) , acquire within the meaning of Article 3(1)(b)  
and 3(4) of the Merger Regulation joint  control over the whole of 105VS Holdings 
Unit Trust (“105 VStreet”, Jersey) 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 introduc ed 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 72, 14.2.2022, p. 8.  

2 2. The business activities of the undertakings concerned are:  
− for Welput: property unit trust. It is a collective investment scheme for the 
purposes of the UK Financial Services and Markets Act 2000. Welput is active 
exclusively in central London in the United Kingdom,  
 
− for PSPIB: pension investment manager of the pension plans of the Canadian 
Federal Public Service, the Canadian Forces, the Royal Canadian Mounted 
Police and the Reserve Force. It manages a diversified global portfolio 
including stocks, bonds and other fixed-income securities as well as 
investments in private equity, real estate, infrastructure, natural resources and credit investments;  
− for Alecta: pension fund that manages the occupational pensions of private individual s and companies in Sweden. Alecta’s investments portfolio includes 
investments in fixed i ncome, equities and real estate,  
− for 105 VStreet:  ownership and management of a  real estate property located 
at 105 Victoria Street, London.  
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 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 366, 14.12.2013, p. 5.