PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2026/15 - EQT / CICAP
Acquired
CICAP Limited
Description
A UK-based secondary alternative asset management company specializing in secondary private equity and private credit markets globally. In Portugal, it operates solely through Pinpropco, whose only activity is the purchase and sale of real estate.
Acquiring
EQT AB
Description
EQT is a global investment group focused on asset management. In Portugal, EQT is present through a portfolio controlled by EQT Funds, which operate in a diverse range of sectors, including healthcare, technology, energy and environment, social sector and services.
Sector
  • Trade and Services
Activity (NACE)
  • L681 - Buying and selling of own real estate
Applicable legislation
Art. 37(1)(c) (Law 19)
Notification thresholds
Turnover threshold
Type of merger
Conglomerate
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The merger operation consists of the acquisition, by EQT AB (PUBL.) (“EQT”), of exclusive control over CICAP LIMITED and its subsidiaries (“CICAP”).
Timeline
2026-03-26
AdC adopted a non-opposition decision in concentration operation EQT / CICAP
2026-03-10
EQT notifies the acquisition of exclusive control over CICAP
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