BlackRock Sells $2.5B In Bonds To Help Fund Preqin Deal: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 17 2024
0mins
Should l Buy BLK?
Source: Benzinga
BlackRock's Bond Sale for Preqin Acquisition: BlackRock is selling $2.5 billion in U.S. investment-grade bonds to fund its $3.2 billion acquisition of private-markets data company Preqin. The bond sale is led by major banks and includes a special redemption clause if the deal does not close by 2025.
Private Markets Growth and Revenue Synergies: The acquisition of Preqin aims to enhance BlackRock's presence in private-markets investing, a sector expected to reach nearly $40 trillion by the end of the decade. The deal is projected to drive revenue synergies and expand into emerging private markets.
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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: 1048.600
Low
1209
Averages
1354
High
1550
Current: 1048.600
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 and subscription services to institutional and retail clients. Its diverse platforms of alpha-seeking active, private markets, index and cash management investment strategies across asset classes enable it 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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See More
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- Rising Private Credit Risks: With increasing default rates in private credit, firms like Morgan Stanley and Blackstone have restricted investor withdrawals from their private credit funds, which could lead to liquidity crises and impact shareholder interests, highlighting vulnerabilities in the financial markets.
- Escalating Inflation Pressure: U.S. inflation surged from 2.4% to 3.3%, driven by rising oil and gas prices, which may not have been factored into private lending models, increasing the risk of borrower defaults and destabilizing related industries.
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