BlackRock Inc. has completed its acquisition of Preqin, an independent provider of private markets data, enhancing BlackRock's capabilities in investment, technology, and data solutions across public and private markets. The transaction aims to address the increasing role of private markets in global growth financing and the need for transparency among institutional and wealth investors.
Rob Goldstein, BlackRock’s Chief Operating Officer, emphasized the importance of better data for investment decisions: “BlackRock is a perpetual reinvention machine, evolving continuously to stay ahead of our clients’ rapidly changing needs. Today clients are seeking a ‘common language’ for investing that requires better data to drive investment decisions, manage risk, and construct portfolios. With Preqin, a part of BlackRock, we will seek to meet this need."
Preqin founder Mark O’Hare highlighted the challenges faced by investors in private markets: “For decades, investors in private markets have lacked the robust data they need to make fully informed decisions and incorporate private assets into their portfolios at scale.”
Following the acquisition, Preqin will enhance BlackRock’s technology offerings while remaining available as a standalone solution. Sudhir Nair, Global Head of Aladdin at BlackRock, noted the strategic value added by Preqin's resources: “We are on a journey to make private markets more accessible and transparent for clients through data and technology."
The acquisition aligns with BlackRock’s strategy to expand into the growing private markets data segment. Preqin’s platform provides coverage on 210,000 funds with over 220,000 users worldwide.
Post-acquisition changes include Mark O’Hare joining BlackRock as Vice Chair. Barclays served as lead financial advisor with Skadden providing legal counsel for BlackRock during this process.