BlackRock to Acquire Preqin, Leading Private Markets Data Solutions Provider [Yahoo! Finance]
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BlackRock, Inc. (BLK)
Last blackrock, inc. earnings: 4/16 06:02 am
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Source: Yahoo! Finance
Strategic expansion of Aladdin tech business into fast-growing private markets data segment, unlocking additional $8 billion total addressable market Preqin grows BlackRock's client base across GPs, LPs and service providers, bringing 4,000+ relationships and ~$240 million of highly recurring 2024E revenue NEW YORK & LONDON, July 01, 2024 BUSINESS WIRE )--BlackRock, Inc. (NYSE: BLK) has agreed to acquire Preqin, a leading independent provider of private markets data for £2.55 billion or approximately $3.2 billion in cash. Bringing together Preqin's data and research tools with Aladdin's complementary workflow capabilities in a unified platform will create a preeminent private markets technology and data provider. The acquisition adds a highly complementary data business to BlackRock's investment technology, marking a strategic expansion into the fast-growing private markets data segment. Private markets are the fastest growing segment of asset management, with alternative asset
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