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.
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00:00It's Benzinga and here's what's on the block.
00:02BlackRock is set to acquire Prekin, a private capital database provider for $3.2 billion
00:08in cash, aiming to enhance its role in alternative assets.
00:12This acquisition will bolster BlackRock's risk oversight and data analysis in private
00:16asset markets and expand its Aladdin technology systems.
00:20Private markets are projected to be the fastest-growing sector in asset management, with alternative
00:24assets expected to reach nearly $40 trillion by the decade's end.
00:28Prekin, which covers 190,000 funds and 30,000 private markets investors, has seen annual
00:34growth of approximately 20% over the past three years.
00:37For all things money, visit Benzinga.com.