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B. G., Opalesque Geneva: BlackRock, Inc., an American multinational investment company headed by Larry Fink, is to acquire 100% of Preqin, an independent provider of private markets data, for GBP2.55bn billion ($3.2bn) in cash.
BlackRock, which has about US$10tln in AuM, plans to combine Preqin's data and research tools and Aladdin's complementary workflow capabilities. Aladdin is BlackRock's portfolio management software that provides investment professionals a way to view and manage daily investments to over 1,000 clients.
Preqin and Aladdin will form a unified platform of private markets technology and data provision. This will make it a strategic expansion into the private markets data segment.
Private markets - the investment in the capital of privately-owned companies versus publicly traded companies - are the fastest-growing segment of asset management, with alternative assets expected to reach nearly $40tln by the end of the decade, according to BlackRock. The new platform will meet increasing allocations to alternatives, and the need for standardised data, benchmarks and analytics.
Private markets data is estimated to be an $8bn total addressable market and growing 12% per year, reaching $18bn by 2030.
The Financial Times reported last month that Preqin was ...................... To view our full article Click here
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