BlackRock Buys Private Markets Data Firm Preqin
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 01 2024
0mins
Should l Buy BLK?
Source: investopedia.com
- BlackRock Acquires Preqin: BlackRock, the world's largest asset manager, has acquired private markets data provider Preqin for $3.2 billion.
- Revenue Expectations: Preqin is expected to generate $240 million in recurring revenue this year.
- Market Growth Forecast: BlackRock estimates that the private markets data market could grow from $8 billion to $18 billion by 2030.
- Strategic Augmentation: The acquisition of Preqin will enhance BlackRock's Aladdin financial technology platform with private market data and research tools.
- Leadership Transition: Preqin founder Mark O'Hare will join BlackRock as a vice chair following the acquisition.
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Analyst Views on BLK
Wall Street analysts forecast BLK stock price to rise
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 934.060
Low
1209
Averages
1354
High
1550
Current: 934.060
Low
1209
Averages
1354
High
1550
About BLK
BlackRock, Inc. is an investment management company. The Company provides a range of investment management and technology services to institutional and retail clients. Its diverse platform of alpha-seeking active, private markets, index and cash management investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients. Its product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives, and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds, separate accounts, collective investment funds and other pooled investment vehicles. It also offers technology services, including the investment and risk management technology platform, Aladdin, Aladdin Wealth, eFront, and Cachematrix, as well as advisory services and solutions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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