BlackRock to buy UK data firm Preqin for $3.2 bln
Source Investing
Jul 1, 2024 01:54
Investing.com-- BlackRock Inc (NYSE:BLK) said on Sunday that it had entered an agreement to buy British data firm Preqin for 2.55 billion pounds ($3.2 billion), granting the asset manager more space in the alternative investments sector.
BlackRock said in a press release that the asset manager will fold Peqin’s data and research tools into its Aladdin platform, and that the deal was set to bring in $240 million of estimated revenue in 2024.
Media reports earlier in June said that London Stock Exchange Group PLC (LON:LSEG) and S&P Global Inc (NYSE:SPGI) were among potential bidders for Preqin.
Preqin specializes in data in the alternative investments industry, and also tracks the performance of private equity and hedge funds.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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