BlackRock Agrees to Acquire UK-based Data Group Preqin for £2.55 Billion

BlackRock, a $10.5 trillion asset manager, has reached an agreement to acquire UK-based data group Preqin for £2.55 billion. The acquisition, which outpaced competitors S&P Global and Bloomberg, is part of BlackRock’s strategy to acquire specialized data providers. The deal is expected to be officially announced on Monday.

In recent years, there have been significant acquisitions in the data provider sector. Notable examples include S&P Global’s acquisition of IHS Markit for $44 billion in 2020 and the London Stock Exchange Group’s purchase of Refinitiv for $27 billion. Private equity firms have also targeted smaller firms, with Permira acquiring a majority stake in Reorg for approximately $1.3 billion.

BlackRock plans to maintain Preqin as a distinct service while integrating its data feeds into BlackRock’s Aladdin and eFront risk management platforms. The finalization of the deal is expected later this year.

Established two decades ago, Preqin specializes in monitoring and analyzing the performance of private equity and hedge funds. With a user base of around 200,000, the company provides comprehensive data on 60,000 fund managers and 30,000 investors. Preqin has experienced strong growth, with its revenue increasing by over 20% annually in the past three years.

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