BlackRock Buys Private Markets Data Firm Preqin

Key TakeawaysBlackRock has acquired private markets data provider Preqin for $3.2 billion.The U.K.-based firm is expected to generate $240 million in recurring revenue this year.BlackRock estimates that private markets data has an estimated total addressable market of $8 billion, which could grow to $18 billion by 2030. BlackRock (BLK) has agreed to buy private markets data provider Preqin in a £2.55 billion (US$3.2 billion) cash deal, the world’s largest asset manager announced Sunday. In acquiring private ...