Prior notification of a concentration (Case M.11281 – GOLDMAN SACHS / CHARLESBANK CAPITAL PARTNERS / WORLD INSURANCE ASSOCIATES) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 334/05
Date: 2023-09-22
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, insurance, investment company, merger control








C_2023334EN.01001001.xml










22.9.2023   


EN


Official Journal of the European Union


C 334/10







Prior notification of a concentration
(Case M.11281 – GOLDMAN SACHS / CHARLESBANK CAPITAL PARTNERS / WORLD INSURANCE ASSOCIATES)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 334/05)


1.   
On 13 September 2023, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Charlesbank Capital Partners, LLC (‘Charlesbank’, USA),










—


Goldman Sachs Asset Management, LP (‘Goldman Sachs Asset Management’, USA), controlled by the Goldman Sachs Group, Inc (USA),










—


World Insurance Associates, LLC (‘World Insurance Associates’, USA), solely controlled by Charlesbank.




Charlesbank Capital Partner and Goldman Sachs Asset Management will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of World Insurance Associates.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Charlesbank is a private equity firm with portfolio companies active in business services, consumer, healthcare, industrial, technology and technology infrastructure, primarily in North America,










—


Goldman Sachs Asset Management provides investment and advisory services across public and private markets for international institutions, financial advisors and individuals.






3.   

The business activities of World Insurance Associates are the following: insurance brokerage specialised in personal and commercial insurance lines, surety and bonding, employee benefits, financial and retirement services, and human capital management solutions.



4.   
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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


5.   
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. The following reference should always be specified:
M.11281 – GOLDMAN SACHS / CHARLESBANK CAPITAL PARTNERS / WORLD INSURANCE ASSOCIATES
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Postal 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 160, 5.5.2023, p. 1.