Prior notification of a concentration (Case M.7505 — TCG Financial Services II, L.P./Warburg Pincus LLC/DBRS Holdings Limited) — Candidate case for simplified procedure  Text with EEA relevance
Date: 2015-01-30
Institutions: European Commission
Subjects: economic concentration, financial solvency, investment company, merger control








C_2015031EN.01001201.xml










30.1.2015   


EN


Official Journal of the European Union


C 31/12





Prior notification of a concentration
(Case M.7505 — TCG Financial Services II, L.P./Warburg Pincus LLC/DBRS Holdings Limited)
Candidate case for simplified procedure
(Text with EEA relevance)
(2015/C 31/08)






1.


On 21 January 2015, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which TCG Financial Services II, L.P. (‘TCGFS II’ USA), belonging to the Carlyle Group L.P. (‘Carlyle’, USA) and Warburg Pincus LLC (‘Warburg Pincus’ USA) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of DBRS Holdings Limited (‘DBRS’, Canada) by way of purchase of shares.










2.


The business activities of the undertakings concerned are:






—


Carlyle is a global alternative asset manager. It manages funds that invest globally across four investment disciplines: (i) corporate private equity; (ii) real estate, infrastructure and energy; (iii) structured credit, mezzanine, distressed, hedge funds, and middle market debt; and (iv) private equity fund of funds programme and related co-investment and secondary activities,










—


Warburg Pincus is a private equity firm active globally in a variety of sectors, including consumer, industrial and services, energy, financial services, healthcare, and technology, media and telecommunications,










—


DBRS is a global provider of credit rating opinions across a broad range of financial institutions, corporate entities, government bodies and various structured finance product groups in North America, Europe, Australasia and South America.














3.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.










4.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7505 — TCG Financial Services II, L.P./Warburg Pincus LLC/DBRS Holdings Limited, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.