Commission Decision of 20/02/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6481 - H.I.G. EUROPE CAPITAL PARTNERS / GENERAL ATLANTIC / FNZ GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels , 20 February 2012 C(2012) 1237 PUBLIC VERSION SIMPLIFIED MERGER PROCEDURE To the notifying parties Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6481 – H.I.G. EUROPE CAPITAL PARTNERS / GENERAL ATLANTIC / FNZ GROUP Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1.
On 17.01.2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings H.I.G. Europe Capital Partners, L.P. (‘H.I.G. Europe Capital’, Luxembourg) and General Atlantic LLC (‘General Atlantic’, USA) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Kiwi Holdco Cayco Ltd. (‘Holdco’) and its subsidiaries (collectively the ‘FNZ Group’, UK) by way of purchase of shares [2] . 2. The business activities of the undertakings concerned are: — H.I.G. Europe Capital: global private equity investment firm, — General Atlantic: equity firm providing capital and strategic support for growth companies, — FNZ Group: provider of integrated wealth management platforms.
3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) and paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [3] . 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation.
For the Commission (signed) Alexander ITALIANER Director General [1]OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision. [2] Publication in the Official Journal of the European Union No C 19, 24.01.2012, p.10 [3] OJ C 56, 5.3.2005, p. 32.