BlackRock Nears Deal to Acquire Data Provider Preqin
BlackRock headquarters in New York.
(Bloomberg) -- BlackRock Inc. is nearing a £2 billion ($2.5 billion) deal to acquire private capital database provider Preqin, according to people with knowledge of the matter.
After outbidding rivals, BlackRock has emerged as the likely buyer for London-based Preqin, the people said, asking not to be identified because the matter is private. The companies are hammering out the details of a transaction that may be announced as soon as Monday.
The talks are ongoing and may still end without an agreement, the people said. BlackRock had no immediate comment Sunday and Preqin didn’t immediately respond to requests for comment outside business hours.
The private equity database provided by Preqin is one of the largest and most popular, tracking fund performance, deals and portfolio companies, according to its website. It covers nearly 30,000 firms and almost 62,000 funds.
Preqin competes with Bloomberg LP, the parent of Bloomberg News.
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