(AOF) – BlackRock has agreed to acquire Preqin, an independent provider of private markets data, for £2.55 billion, or approximately $3.2 billion in cash. “In 2024, Preqin is expected to generate approximately $240 million in highly recurring revenue and has grown approximately 20% per year over the past three years,” the world’s largest asset manager said.
Preqin is a leading independent provider of private markets data solutions, with global coverage of 190,000 funds, 60,000 fund managers and 30,000 private markets investors, reaching over 200,000 users including asset managers, insurers, pension funds, wealth managers, banks and other service providers.
The transaction is expected to close before the end of 2024, subject to regulatory approvals and other customary closing conditions.
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