BlackRock will buy private markets data platform Prequin for £2.5 billion

With a 20-year history, Preqin is the leading independent private markets data provider, covering 190,000 funds, 60,000 fund managers and 30,000 private market investors globally, reaching over 200,000 users including asset managers, insurers, pensions, managers property, banks and other service providers.

Preqin is expected to generate ~$240 million in recurring revenue in 2024, and has grown approximately 20% annually over the past three years.

Under the agreement, Prequin’s data collection and research tools will be connected to BlackRock’s Aladdin workflow platform, expanding the scale of BlackRock’s technology offering.

The acquisition enhances BlackRock’s ability to oversee risk management and analytics for its discretionary presence in private markets and supervised assets through Aladdin. Combining Preqin with Aladdin will enable BlackRock to integrate private markets investment workflows with proprietary data that addresses all aspects of private markets, including fundraising, deal sourcing, portfolio monitoring, accounting and performance.

Rob Goldstein, BlackRock’s Chief Operating Officer, said: “The acquisition enhances BlackRock’s ability to oversee risk management and analytics across discretionary private markets exposure and assets overseen through Aladdin. Combining Preqin with Aladdin will enable BlackRock to integrate private markets investment workflows with proprietary data that addresses all aspects of private markets, including fundraising, deal sourcing, portfolio monitoring, accounting and performance.