Prior notification of a concentration (Case M.11924 – TPG / ARCH / KELSO / WARBURG / SOMERS RE) – Candidate case for simplified procedure
Date: 2025-09-18
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, financial services, health care, healthcare industry, insurance, investment company, merger control, real estate business, technology, telecommunications








C_202505107EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/5107


18.9.2025






Prior notification of a concentration
(Case M.11924 – TPG / ARCH / KELSO / WARBURG / SOMERS RE)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/5107)


1.   
On 11 September 2025, 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:






—


TPG Inc. (‘TPG’, United States),










—


Arch Capital Group Ltd. (‘Arch’, Bermuda),










—


Kelso & Company L.P. (‘Kelso’, United States),










—


Warburg Pincus LLC (‘Warburg’, United States),










—


Greysbridge Holdings Ltd. (doing business as ‘Somers Re’, Bermuda), which is currently jointly controlled by Arch, Kelso and Warburg.




TPG, Arch, Kelso and Warburg will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Somers Re.
The concentration is accomplished by way of purchase of shares.


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






—


TPG is a global alternative asset management firm that consists of six multi-product platforms: Capital, Growth, Impact, Real Estate, Market Solutions and Angelo Gordon,










—


Arch provides insurance, reinsurance and mortgage insurance on a worldwide basis,










—


Kelso specializes in North American-focused private equity investing with investments in a range of industries, including financial services, healthcare, business services and consumer carveouts,










—


Warburg is a private equity investment firm, with portfolio companies active globally in a variety of sectors, including consumer, industrial and business services, energy, financial services, healthcare, real estate, and technology, media and telecommunications.






3.   

The business activities of Somers Re are the following: Somers Re is a property and casualty insurance and reinsurance company active in Bermuda, Europe, the United Kingdom and the United States.



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 concentration 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.11924 – TPG / ARCH / KELSO / WARBURG / SOMERS RE
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.


ELI: http://data.europa.eu/eli/C/2025/5107/oj
ISSN 1977-091X (electronic edition)