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