Radiocor News

BlackRock to buy Preqin for 2.55 bln pounds in cash

Expands private markets business (Il Sole 24 Ore Radiocor) - New York, 01 Jul - The US investment firm BlackRock said it has agreed to buy UK private markets data provider Preqin for 2.55 billion pounds, or 3.2 billion dollars, to merge it with its Aladdin and create a preeminent private markets technology and data provider.

In 2024, Preqin is expected to generate around 240 million dollars of highly recurring revenue and has grown approximately 20% per year in the last three years. Through the Aladdin platform, BlackRock provides technology solutions to over 1,000 clients.

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

AAA-Sch

(RADIOCOR) 01-07-24 08:01:18 (0056) 5 NNNN

 


The Exchange accepts no responsability for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.


You will be redirected in five seconds.