BlackRock Acquires Preqin for $3.22 Billion to Enhance Data Capabilities

03 Jul, 2024

BlackRock Acquires Preqin for $3.22 Billion to Enhance Data Capabilities

BlackRock, the world's largest asset management firm, is set to acquire U.K.-based data provider Preqin to bolster its data capabilities. The New York-based company has agreed to purchase the private-markets data provider for £2.55 billion ($3.22 billion) in cash. This acquisition is expected to close by the end of the year.

Preqin specializes in providing data, insights, and tools for alternative assets professionals around the world. This acquisition will significantly enhance BlackRock’s existing investment technology, particularly in the private-markets data sector. By integrating Preqin’s extensive database and analytics with BlackRock’s proprietary software, Aladdin, the firm aims to offer more comprehensive and accessible investment solutions.

"Together with Preqin, we can make private markets investing easier and more accessible while building a better-connected platform for investors and fund managers," said Sudhir Nair, global head of Aladdin. This move is seen as part of BlackRock's broader strategy to strengthen its position in the alternative investment space and provide more robust data-driven solutions to its clients.

The deal also highlights the growing importance of data in investment decision-making, as firms seek to leverage advanced analytics to gain a competitive edge. Overall, this acquisition underscores BlackRock’s commitment to innovation and enhancing its data capabilities to better serve its investors.