Dark
Light
Today: November 14, 2024
July 1, 2024
1 min read

BlackRock Acquires Preqin: A Game-Changing Investment in Data

TLDR:

  • BlackRock acquires private markets data provider Preqin for $3.2 billion.
  • Preqin is expected to generate $240 million in recurring revenue this year.

BlackRock, the world’s largest asset manager, has announced the acquisition of Preqin, a private markets data provider, for $3.2 billion. This move is aimed at enhancing BlackRock’s Aladdin financial technology platform with private market data and research tools. Preqin is projected to bring in approximately $240 million in recurring revenue in 2024. The acquisition is set to close by the end of the year. The private markets data sector has an estimated total addressable market of $8 billion, with potential growth to $18 billion by 2030, according to BlackRock. Preqin’s founder, Mark O’Hare, will join BlackRock as a vice chair, with the goal of delivering better private market data and analytics to clients at scale.

Previous Story

Rainforest Secures $20 Million Funding from Matrix Partners

Next Story

Grosvenor’s Bold Move into Venture Capital Funding

Latest from Blog

Go toTop