Acquisition Finalized: BlackRock takes over Preqin, reinforcing its private markets expertise
BlackRock, the world's largest asset manager, has officially completed the acquisition of Preqin, a leading provider of private markets data. The move is aimed at enhancing BlackRock's ability to deliver comprehensive investment solutions and providing investors with better tools to navigate alternative investments.
Preqin will continue to operate independently, with its founder, Mark O'Hare, joining BlackRock as Vice Chairman. O'Hare's leadership and expertise in private markets data will strengthen BlackRock's expansion in the sector. The synergies between BlackRock's platforms and Preqin's proprietary data are being leveraged to combine Preqin's private markets intelligence with Aladdin and eFront's analytics and workflow capabilities.
Access to high-quality data and analytics is more critical than ever for navigating alternative investments. Institutional and retail investors are increasingly allocating capital to private markets, and the acquisition of Preqin underscores BlackRock's commitment to enhancing transparency in these markets.
Joint clients of BlackRock and Preqin will immediately benefit from integrations such as access to Preqin benchmarks within Aladdin and eFront. Over time, BlackRock aims to develop a unified investment framework to bridge the transparency gap between public and private portfolios.
The acquisition brings 1,600 Preqin employees into BlackRock's global workforce. BlackRock's presence at the Swiss Private Equity Conference in Zurich this week underscores its continued focus on private markets.
It's worth noting that despite the acquisition, Preqin's operations will continue to operate independently. Mark O'Hare's future employment status following the acquisition is not specified.
This strategic move is part of BlackRock's broader mission to provide investors with the best possible tools to navigate the rapidly evolving investment landscape.
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