BlackRock has acquired Preqin, a leading independent provider of private markets data.
The company says that by combining Preqin’s data and research tools with BlackRock’s Aladdin platform’s complementary workflow capabilities, it will create a preeminent private markets technology and data provider.
The acquisition aims to add complementary data business to BlackRock’s investment technology, marking a strategic expansion into the fast-growing private markets data segment.
The combination of Preqin with eFront, Aladdin’s private markets solution, aims to bring together the data, research, and investment process for fund managers and investors across fundraising, deal sourcing, portfolio management, accounting, and performance.
Rob Goldstein, chief operating officer at BlackRock, says: “BlackRock’s vision has always been to bring together investments, technology, and data to offer solutions that meet our clients’ needs across their whole portfolio.
“As clients increasingly evolve their focus from choosing products to constructing portfolios, this shift requires technology, data, and analytics that create a ‘common language’ for investing across both public and private markets.”
Mark O’Hare, founder of Preqin, comments: “BlackRock is known for excellence in both investment management and financial technology, and together we can accelerate our efforts to deliver better private markets data and analytics to all of our clients at scale.”
