BlackRock has agreed to acquire Preqin, an independent provider of private markets data, for £2.55bn.

The transaction is expected to close before year-end 2024, subject to regulatory approvals and other customary closing conditions.

Chief operating officer at BlackRock, Rob Goldstein, said: "BlackRock’s vision has always been to bring together investments, technology, and data to offer solutions that meet our clients’ needs across their whole portfolio.

"As clients increasingly evolve their focus from choosing products to constructing portfolios, this shift requires technology, data, and analytics that create a ‘common language’ for investing across both public and private markets.

"We see data powering the industry across technology, capital formation, investing, and risk management. Every acquisition has been an opportunity to strengthen our capabilities for clients—and in fact, we have been a client of Preqin for many years, and we look forward to welcoming the talented Preqin team to BlackRock."

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