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BlackRock to acquire private markets data provider Preqin for $3.2bn

BlackRock to Acquire Preqin: Key Points

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

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