BlackRock to Acquire UK Data Provider Preqin for £2.55 Billion ($3.22 Billion)

Jul 1, 2024, 01:46 AM

BlackRock has agreed to acquire UK-based data provider Preqin for £2.55 billion ($3.22 billion) in cash. This acquisition marks BlackRock's first major move into selling financial information. The deal will see Preqin's founder become vice chair of the company. BlackRock outbid competitors such as S&P Global, Bloomberg, and PE firms for this acquisition. The purchase is part of BlackRock's strategy to enhance its presence in alternative assets.