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The $10.5t asset manager beat S&P Global and Bloomberg to acquire Preqin in the latest of a series of deals for specialized data providers, according to people briefed on the deal. Dealmaking for data providers has been rampant in recent years as private equity groups, asset managers and larger information businesses race to serve investors who want access to granular information about all corners of the financial markets, including private equity, infrastructure and hedge funds.
“As clients increasingly evolve their focus from choosing products to constructing portfolios, this shift requires technology, data, and analytics,” Rob Goldstein, BlackRock’s chief operating officer, said in a statement. “We see data powering the industry across technology, capital formation, investing, and risk management.”
