Stock Market News

BlackRock to buy UK data firm Preqin for $3.2 bln

06/30/2024

Less than a minute

2024.06.30 21:44

BlackRock to buy UK data firm Preqin for $3.2 bln

Investing.com– BlackRock Inc (NYSE:) said on Sunday that it had entered an agreement to buy British data firm Preqin for 2.55 billion pounds ($3.2 billion), granting the asset manager more space in the alternative investments sector.

BlackRock said in a press release that the asset manager will fold Peqin’s data and research tools into its Aladdin platform, and that the deal was set to bring in $240 million of estimated revenue in 2024.

Media reports earlier in June said that London Stock Exchange Group PLC (LON:) and S&P Global Inc (NYSE:) were among potential bidders for Preqin.

Preqin specializes in data in the alternative investments industry, and also tracks the performance of private equity and hedge funds.

06/30/2024

Less than a minute

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