BlackRock to acquire private markets data provider Preqin for $3.2 billion

According to Bloomberg, BlackRock will acquire private capital database provider Preqin for £2.55 billion (about $3.2 billion) in cash. BlackRock said the acquisition enhances BlackRock's ability to monitor risk and analyze data in the fast-growing private asset market and expand its Aladdin technology system. The transaction is expected to be completed by the end of this year, subject to regulatory and other necessary approvals. In addition, Nate Geraci, president of The ETF Store, commented on the X platform that BlackRock acquired Preqin, an alternative asset/private market data provider, seeking to use this data to eventually create ETFs.