BlackRock to Acquire Preqin for $3.2 Billion in Cash, Bolstering Its Presence in Private Capital

BlackRock is set to acquire Preqin, a private capital database provider, for $3.2 billion in cash, aiming to enhance its role in alternative assets. This acquisition will bolster BlackRock's risk oversight and data analysis in private asset markets and expand its Aladdin technology systems. Private markets are projected to be the fastest-growing sector in asset management, with alternative assets expected to reach nearly $40 trillion by the decade's end. Preqin, which covers 190,000 funds and 30,000 private market investors, has seen annual growth of approximately 20% over the past three years.