Prior notification of a concentration (Case M.11467 – BLACKROCK / GIM) – Candidate case for simplified procedure
Date: 2024-06-05
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, investment, investment company, merger control, provision of services, risk management








C_202403635EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/3635


5.6.2024






Prior notification of a concentration
(Case M.11467 – BLACKROCK / GIM)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/3635)


1.   
On 29 May 2024, 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:






—


BlackRock Funding, Inc. (‘BFI’, U.S.) controlled by BlackRock, Inc. (‘BlackRock’, U.S.),










—


Global Infrastructure Management, LLC (‘GIM’, U.S.).




BFI will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of GIM.
The concentration is accomplished by way of purchase of securities (2).


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






—


BlackRock is a U.S. publicly traded company active in the provision of global investment management, risk management and advisory services to institutional and retail clients around the world. BlackRock manages assets on behalf of institutional and individual investors worldwide,










—


GIM is a US-based global independent infrastructure fund manager that provides management services and advice to certain investment funds affiliated with GIM (the ‘GIP Funds’) that invest in infrastructure businesses and assets in energy, transportation, digital, water and waste sectors.






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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (3) it should be noted that this case is a candidate for treatment under the procedure set out in the 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. The following reference should always be specified:
M.11467 – BLACKROCK / GIM
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)  The Proposed Transaction will involve BlackRock Funding, Inc. acquiring all of the issued and outstanding limited liability company interests of GIM. Because GIM is a Delaware limited liability company and not a corporation, its interests are more accurately described as securities rather than shares.

(3)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/3635/oj
ISSN 1977-091X (electronic edition)