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Mergers: Commission clears acquisition of joint control over #VICLPs by #IvanhoeCambridge and #PSPIB

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The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over VIC Strategic Multifamily Partners LPs (the "VIC LPs") of the USby Ivanhoe Cambridge and the Public Sector Pension Investment Board ("PSPIB"), both of Canada. The VIC LPs, currently solely controlled by Ivanhoe Cambridge, own and manage residential real estate assets in the San Francisco Bay area. Ivanhoe Cambridge is a global real estate investor controlled by Caisse de dépôt et placement du Québec. PSPIB invests the pension plans of the Canadian public sector in a diversified global portfolio composed of investments in real estate, public financial markets, private equity, infrastructure, natural resources and private debt services. The Commission concluded that the proposed acquisition would raise no competition concerns as the VIC LPs have no foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8982.

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