BlackRock to Acquire Preqin: Key Points
- Acquisition Details:
- US asset management firm BlackRock will acquire Preqin, a UK-based private markets data solutions provider, in a $3.2 billion (£2.55 billion) cash deal.
- The transaction is expected to close later this year, subject to regulatory approval.
- Integration with BlackRock Platforms:
- Preqin’s data and research tools will merge with BlackRock’s portfolio management platform, Aladdin, and its private markets solution, eFront.
- This merger aims to create a comprehensive private markets technology and data provider, consolidating data, research, and investment processes for fund managers and investors.
- Leadership and Vision:
- Preqin founder Mark O’Hare will join BlackRock as a vice chair.
- BlackRock COO Rob Goldstein emphasizes the need for technology, data, and analytics to support portfolio diversification across various asset classes.
- Enhancing Capabilities:
- The acquisition is expected to bolster BlackRock’s abilities within private markets and alternative assets, enhancing its provision of standardized data, benchmarks, and analytics.
- This will enable investors to better incorporate private asset classes into portfolios and provide fund managers with better data and tools to deliver outcomes for clients.
- Strategic Opportunities:
- Sudhir Nair, Global Head of Aladdin, sees the acquisition as an opportunity to make private markets investing easier and more accessible.
- The goal is to bridge the transparency gap between public and private markets through enhanced data and analytics.
