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, 27.08.2021  
C(2021 ) 6487 final  
PUBLIC VERSION  
The Blackstone Group Inc.  
345 Park Avenue   
10154 New York, NY  
United States of America  
 
GTCR LLC  
300 North LaSalle Street Suite 5600   
60654 Chicago, IL  
United States of America  
Subject : Case M. 10402  – Blackstone/GTCR/Campaign Parent  
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 5 August 2021 , the European Commission received notification of a proposed 
concentration pursuant to Article 4  of the Merger  Regulation by which  The 
Blackstone Group Inc. (‘Blackstone’, USA)  and GTCR, LLC (‘GTCR’, USA)  acquire 
within the meaning of Article 3(1)(b)  and Articl e 3(4)  of the Merger Regulation joint 
control over the whole of the undertaking Campaign Parent, LLC (‘Campaign Parent’, 
USA) , which is  currently solely controlled by funds managed by GTCR , by way of 
purchase of securities .3 
2. The business activities of the undertakings concerned are:  
 for Blackstone: global asset management  and investment firm,  
 for GTCR: private equity investment firm, focused on financial services & 
technology, healthcare, technology, media & telecommunications and business 
services industri es, 
                                                 
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 ‘Communi ty’ 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 325, 13.08.2021 , p. 2. 

2  for Campaign Parent: ultimate holding entity of two operational subsidiaries, 
Simplifi and Advantage , 
 for Simplifi: technology platform that helps advertisers sell advertisements online, 
including on the web, the mobile web, in apps and with Connected TV 
advertising,  
 for Advantage: provider of enterprise -level software designed for advertising 
agencies and marketing companies.  
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 Europ ean 
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 .