07.01.24
BlackRock To Acquire Data Provider Preqin for $3.22 Billion
by: Sherry Qin
BlackRock agreed to acquire U.K. data provider Preqin in a deal valued at $3.22 billion. The asset management giant intends to continue to offer Preqin as a stand-alone service while also using it with the asset manager’s Aladdin proprietary software to “create a preeminent private markets technology and data provider.” BlackRock has been pushing to expand its private-market operations, an area that is faster growing and potentially more lucrative than its core business of selling low-cost passive investment products such as exchange-traded funds. In January, it agreed to buy private equity firm Global Infrastructure Partners for about $12.5 billion, while more recently it inked a partnership with GeoWealth to offer private equity and debt funds in customized portfolios for financial advisors across the United States.
Read the full article on The Wall Street Journal