Bolsters Aladdin technology platform with Preqin's data and research tools
Deepens ability to manage risks and analyze data across fast-growing private asset markets
Enhances capabilities in risk management and data analysis for private asset markets
Expands BlackRock's reach in private asset markets
Preqin specializes in providing data and research tools for the alternative investments industry, including private equity and hedge funds
Private markets sector estimated to reach nearly $40 trillion by 2025
In a major move to expand its reach in the private asset markets, BlackRock Inc., the world's largest money manager, has acquired London-based private capital database provider Preqin for £2.55 billion ($3.2 billion) in cash. The acquisition deepens BlackRock's ability to manage risks and analyze data across fast-growing markets for private assets, and also expands its Aladdin technology systems, the New York-based firm said in a statement on Sunday.
Preqin specializes in providing data and research tools for the alternative investments industry, including private equity and hedge funds. The acquisition is expected to grant BlackRock enhanced capabilities in risk management and data analysis for private asset markets. It also bolsters the company's Aladdin technology platform, which will now integrate Preqin's data and research tools.
The deal comes as the private markets sector is estimated to reach nearly $40 trillion by, providing BlackRock with a significant opportunity to expand its business in this area. The acquisition of Preqin also highlights BlackRock's commitment to investing in innovative technologies and expanding its service offerings to better serve clients in the rapidly evolving financial landscape.
