Today’s News
BlackRock, the world’s leading asset management firm, has announced its intention to acquire U.K.-based data provider Preqin for 2.55 billion British pounds, approximately USD 3.22 billion.
Image Source: Seeking Alpha
The all-cash transaction is set to be finalized by the end of this year. This strategic acquisition is aimed at enhancing BlackRock’s data capabilities, particularly within the private markets sector.
The deal will integrate Preqin’s extensive private market data offerings with BlackRock’s investment technology, thereby enhancing the services provided by BlackRock’s proprietary software, Aladdin. Aladdin helps investors manage their investment portfolios efficiently.
Sudhir Nair, the global head of Aladdin at BlackRock, emphasized the benefits of this acquisition: “Together with Preqin, we can make private markets investing easier and more accessible while building a better-connected platform for investors and fund managers.”
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