Prior notification of a concentration (Case M.12271 – FIVE ARROWS / VISTA / STARREZ) – Candidate case for simplified procedure
Date: 2026-01-28
Institutions: Directorate-General for Competition, European Commission
Subjects: cloud computing, company with share capital, economic concentration, information technology, merger control, social integration, software, student residence








C_202600684EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/684


28.1.2026






Prior notification of a concentration
(Case M.12271 – FIVE ARROWS / VISTA / STARREZ)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/684)


1.   
On 16 January 2026, 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:






—


Five Arrows Managers LLP (‘Five Arrows’, Luxembourg), controlled by Rothschild & Co SCA (France),










—


Vista Equity Partners Management, LLC (‘Vista’, United States), controlled by VEP Group, LLC (United States),










—


StarRez Global Pty Ltd (‘StarRez’, Australia), currently solely controlled by Vista.




Five Arrows and Vista will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of StarRez.
The concentration is accomplished by way of purchase of securities.


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






—


Five Arrows provides investment management services to a range of private equity and private debt vehicles, as part of Rothschild & Co’s Five Arrows division,










—


Vista is a private equity firm focused on financing enterprise software, data, and technology-enabled businesses.






3.   

The business activities of StarRez are the following: it is a cloud-based, global software platform purpose-built for the student accommodation market, enabling students, universities, and property managers to create and sustain connected residential communities.



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.12271 – FIVE ARROWS / VISTA / STARREZ
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/2026/684/oj
ISSN 1977-091X (electronic edition)