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BlackRock Acquires Data Provider Preqin for $3.22 Billion Amid Surge in Private Markets Interest
Jul 1, 2024, 09:41 AM
BlackRock Inc. has announced its acquisition of Preqin, a leading data provider, for $3.22 billion. This strategic move comes as interest in private markets surges. The acquisition is seen as a significant development in the competitive landscape, particularly affecting MSCI Inc., which had previously acquired Burgiss, a competitor of Preqin. BlackRock plans to combine Preqin with eFront, another competitor of Burgiss, to enhance its data capabilities in the private markets sector. The news has positively impacted BlackRock's stock, reflecting investor confidence in the acquisition's potential benefits.
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