BlackRock Preqin Deal Changes Private Markets Landscape

BlackRock's acquisition of Preqin has sent shockwaves through the private markets landscape. The deal was announced in 2021, marking a significant shift in the industry.

BlackRock's purchase of Preqin has given the company unparalleled access to private market data, allowing it to better serve its clients. This move has been seen as a major player in the private markets space.

The acquisition has also led to increased competition among private markets firms, forcing them to innovate and adapt to changing market conditions. This is a natural response to the changing landscape.

As a result of the deal, Preqin's data and analytics capabilities will be integrated into BlackRock's existing platform, enhancing its ability to provide insights to clients.

BlackRock will acquire 100% of Preqin's business and assets for £2.55 billion or approximately $3.2 billion in cash.

The transaction is expected to close before year-end 2024, subject to regulatory approvals and other customary closing conditions.

Barclays served as lead financial advisor to BlackRock, while Goldman Sachs International served as the sole financial advisor to Preqin.

Skadden, Arps, Slate, Meagher & Flom acted as legal counsel to BlackRock, and Macfarlanes acted as legal counsel to Preqin.

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The acquisition of Refinitiv by London Stock Exchange Group for $27 billion has significantly impacted the financial data industry. This massive deal has set a new standard for the value of financial data.

The investment community is increasingly reliant on data, research, analytics, and support tools to manage investments and assess risk and performance. This trend is driving the demand for high-quality financial data.

BlackRock's acquisition of a stake in Preqin highlights the growing importance of private equity data in the financial industry.

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BlackRock's acquisition of a financial data provider is just one of many deals in recent years, as the investment community increasingly relies on data, research, analytics, and support tools.

In 2021, MSCI acquired Real Capital Analytics for $950 million, giving the provider of securities indexes ownership of a database cataloging global real estate investment transactions.

London Stock Exchange Group paid $27 billion to acquire data and analytics giant Refinitiv from Thomson Reuters and a Blackstone-led consortium of investors.

S&P Global completed the acquisition of Visible Alpha, a provider of consensus forecast estimates, key performance indicators, and analytics from sell-side analyst models, for an undisclosed amount.

US private equity giant Carlyle Group led a $475 million series E funding round for US-based digital and tech sector data provider YipitData.

BlackRock's acquisition of Preqin is expected to grow its client base by over 4,000 relationships across general partners, limited partners, and service providers.

The deal will add around $240 million of recurring revenue in 2024, a significant boost to BlackRock's financials.