BlackRock to Acquire Data Provider Preqin for $3.22 Billion
SUMMARY
BlackRock, the world's largest asset manager, has announced plans to acquire UK-based data provider Preqin in a $3.22 billion cash deal. This acquisition is aimed at enhancing BlackRock's data capabilities as it expands its operations in private-market investments. The deal, expected to close by year-end pending regulatory approvals, reflects BlackRock's strategic push to strengthen its position in the financial data sector. Preqin, a privately held company, specializes in providing data and insights related to alternative assets, including private equity, real estate, and hedge funds.
