The acquisition is expected to enhance BlackRock’s offerings in public and private markets by integrating investment, technology, and data solutions on a single platform. Credit: Tada Images/Shutterstock.

Asset manager BlackRock has concluded the acquisition of Preqin, an independent provider of private markets data.

In December 2024, the UK Competition and Markets Authority (CMA) reviewed BlackRock’s proposed £2.55bn ($3.2bn) acquisition of Preqin to assess its impact on competition in the UK’s private markets data sector.

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The deal secured the regulator’s green light last month.

This move is set to bolster BlackRock’s offerings across both public and private markets, integrating investment, technology, and data solutions on a single platform.

Preqin is an independent data solutions provider in private markets, offering insights to over 220,000 users, including asset managers and banks.

The private markets sector is expected to see alternative assets reach $30tn by the end of the decade, according to the company.

Preqin founder Mark O’Hare said: “For decades, investors in private markets have lacked the robust data they need to make fully informed decisions and incorporate private assets into their portfolios at scale.

“By marrying Preqin with BlackRock’s technology offering, we are even better placed to tackle this challenge and help clients build more diverse, resilient portfolios by delivering the transparency and insights they seek.”

Preqin will now operate as part of BlackRock, continuing to offer its existing services while also contributing to BlackRock’s technology suite.

Clients will maintain access to Preqin as a standalone solution, with immediate benefits from product integrations, such as Preqin benchmarks within Aladdin.

Over time, BlackRock plans to fully integrate Preqin’s data and research tools with Aladdin and eFront, aiming to advance private markets investing.

BlackRock chief operating officer Rob Goldstein said: “BlackRock is a perpetual reinvention machine, evolving continuously to stay ahead of our clients’ rapidly changing needs.

“Today clients are seeking a ‘common language’ for investing that requires better data to drive investment decisions, manage risk, and construct portfolios.”