BlackRock, with $10.5 trillion in shopper belongings on the finish of March, additionally acquired Kreos Capital final yr to broaden in non-public debt. Lately, the agency has been constructing out its expertise and risk-management companies.
In 2019, BlackRock acquired eFront, a software program supplier enabling traders to evaluate non-public market belongings.
Preqin covers 190,000 funds, 60,000 fund managers and 30,000 non-public markets traders, in response to the assertion. It’s utilized by cash managers, insurers, pensions and wealth managers, amongst others, and has grown roughly 20% per yr up to now three years.
The transaction is predicted to shut earlier than the top of the yr, topic to regulatory and different crucial approvals.
Barclays Plc served as lead monetary adviser to BlackRock, with Skadden, Arps, Slate, Meagher & Flom performing as authorized counsel. Goldman Sachs Group Inc. served as the only monetary adviser to Preqin and Macfarlanes acted as authorized counsel.
Preqin competes with Bloomberg LP, the dad or mum of Bloomberg Information.
Credit score: Bloomberg