Blackrock Agrees To Buy UK Data Group PreqinFor £2.55bn

In a significant move to expand its presence in the alternative investment data space, BlackRock, the world’s largest asset manager, has agreed to acquire UK-based data group Preqin for a staggering £2.55 billion. The deal, announced on [date], marks one of the largest acquisitions in the financial data industry in recent years.

Preqin, founded in 2003, is a leading provider of data and insights on alternative investments, including private equity, real estate, hedge funds, and infrastructure. The company’s platform offers a comprehensive suite of data, analytics, and research tools to institutional investors, asset managers, and financial institutions. With a strong presence in the UK, US, and Asia, Preqin has established itself as a go-to source for alternative investment data and intelligence.

The acquisition is a strategic move by BlackRock to bolster its capabilities in the alternative investment space, which has seen significant growth in recent years. The deal will provide BlackRock with access to Preqin’s extensive database of alternative investment funds, as well as its proprietary research and analytics capabilities. This will enable BlackRock to offer its clients a more comprehensive range of investment solutions and insights, further solidifying its position as a leading asset manager.

“We are excited to welcome Preqin to the BlackRock family,” said Mark Wiseman, Head of Active Equities at BlackRock. “Preqin’s expertise in alternative investment data and analytics will enhance our ability to provide clients with actionable insights and investment opportunities. This acquisition is a key step in our strategy to expand our capabilities in the alternative investment space.”

The deal is expected to close in the second half of 2023, subject to regulatory approvals. Following the acquisition, Preqin will operate as a subsidiary of BlackRock, with its management team remaining in place.

The acquisition of Preqin is the latest in a series of strategic moves by BlackRock to expand its presence in the financial data industry. In recent years, the company has acquired several data and analytics firms, including eFront, a provider of alternative investment management software, and Cachematrix, a cash management platform.

The deal is also seen as a significant vote of confidence in the UK’s financial technology sector, which has been a hub for innovation and growth in recent years. The acquisition of Preqin, a UK-based company, demonstrates the attractiveness of UK-based fintech firms to global investors and acquirers.

In conclusion, the acquisition of Preqin by BlackRock is a significant development in the financial data industry, highlighting the growing importance of alternative investment data and analytics in the investment landscape. The deal is expected to have far-reaching implications for the industry, and will likely drive further consolidation and innovation in the years to come.