Acquisition Finalized: BlackRock Takes Over Preqin to Boost Private Market Expertise
BlackRock Finalizes Acquisition of Preqin, Bolstering Private Markets Presence
In a significant move to enhance its private markets capabilities, BlackRock has finalized the acquisition of Preqin. This acquisition, which adds 1,600 employees from Preqin to BlackRock's global workforce, underscores BlackRock's expansion in the private markets sector.
Mark O'Hare, the founder of Preqin who joined the company through the acquisition, will now serve as Vice Chairman at BlackRock. His leadership and expertise in private markets data will be instrumental in BlackRock's mission to provide investors with better tools for navigating alternative investments.
The acquisition will see Preqin's private markets intelligence combined with Aladdin and eFront's analytics and workflow capabilities. This integration is expected to continue, offering joint clients immediate integrations such as access to Preqin benchmarks within Aladdin and eFront.
The acquisition is a commitment by BlackRock to enhancing transparency in private markets. Access to high-quality data and analytics is becoming increasingly critical for institutional and retail investors in private markets. By leveraging synergies between its platforms and Preqin's proprietary data, BlackRock aims to develop a unified investment framework to bridge the transparency gap between public and private portfolios.
Preqin will continue to operate independently, ensuring clients receive the same level of service and expertise they have come to expect. The integration of Preqin's data with BlackRock's platforms is expected to strengthen BlackRock's ability to deliver comprehensive investment solutions.
This move by BlackRock comes as the company participates in the Swiss Private Equity Conference in Zurich. The acquisition is expected to contribute to the development of a unified investment framework, providing investors with better tools for navigating the complexities of private markets.
In the long term, BlackRock aims to continue developing this unified investment framework, bridging the transparency gap between public and private portfolios and offering investors a more holistic approach to investment management.
