S&P Global strikes $1.8 billion deal for private markets firm With Intelligence (Oct 15)

Core Insights - S&P Global has agreed to acquire With Intelligence, a private markets data provider, to enhance its offerings in the growing financial services sector [1][4] Company Developments - The acquisition of With Intelligence is part of S&P Global's strategy to expand its product range for private markets, which are experiencing increased investor interest due to higher interest rates and concerns over asset price bubbles in public markets [2][3] - With Intelligence, founded in 1998, provides data and analytics for alternative and private markets to approximately 3,000 global customers [3] Financial Projections - With Intelligence is projected to generate around $130 million in revenue by 2025, with an expected annual contract value growth in the high teens [4] - The deal is anticipated to close in 2025 or early 2026 and is expected to contribute to S&P Global's adjusted profit per share by 2027 [4] Market Context - The private markets are gaining traction as investors seek insights into pricing and comparables due to historical opacity, with significant investments from major firms like BlackRock, which spent $12.5 billion on Global Infrastructure Partners and $3.2 billion on Preqin [2][3] - U.S. policy changes, such as an executive order from President Trump, are also facilitating access to nontraditional assets like private equity and private credit in retirement plans [3]