BlackRock acquires UK data firm Preqin for $3.23bn, expanding private markets data segment.

BlackRock has agreed to acquire UK data firm Preqin for £2.55 billion ($3.23 billion) in cash, expanding its private markets data segment. Preqin, founded in 2003, specialises in data about the alternative investment industry and has subscribers in over 90 countries. The acquisition complements BlackRock's Aladdin tech business by combining data, research, and investment process for fund managers. Preqin is expected to generate about $240 million of recurring revenue in 2024.