BlackRock to Acquire Data Provider Preqin for $3.22 Billion

By Sherry Qin

BlackRock, the world's largest asset management firm, plans to acquire U.K. data provider Preqin to bolster its data capabilities.

The New York-based company has agreed to acquire private-markets data provider Preqin for 2.55 billion pounds ($3.22 billion) in cash, it said Sunday in a statement. The deal is expected to close before year-end.

The acquisition adds a complementary data business to BlackRock's investment technology and enhances its offerings in the private-markets data business.

"Together with Preqin, we can make private markets investing easier and more accessible while building a better-connected platform for investors and fund managers," said Sudhir Nair, global head of Aladdin, BlackRock's proprietary software that helps investors manage portfolios.

Write to Sherry Qin at [e-mail]

(END) Dow Jones Newswires

06-30-24 2203ET