BlackRock has announced the acquisition of data provider Preqin for $3.22 billion. This acquisition, valued at $3.2 billion, is expected to be combined with eFront, a competitor of Burgiss, which BlackRock previously acquired. The deal aims to enhance BlackRock's capabilities in data provision for private funds, an area where higher fees can be charged. The acquisition has drawn mixed reactions, with some questioning the value of Preqin's data quality. The founder of Preqin is expected to become wealthier than BlackRock's CEO Larry Fink as a result of the deal. Additionally, there are speculations about the potential 'ETFization' of private markets.
