BlackRock's latest acquisition of Preqin for $3.2 billion will provide a meaningful opportunity for revenue synergies

BlackRock Inc.’s expansion into private markets is set to make Preqin founder Mark O’Hare richer than his new boss Larry Fink.

This presents a substantial opportunity for Aladdin to bridge the transparency gap between public and private markets.”

BlackRock says it has agreed to buy privately held U.K. data group Preqin for $3.2 billion (£2.55 billion) in cash, a deal that allows an inroad into private markets information for the world’s biggest asset manager.

BlackRock said its proposed acquisition of privately held London-based alternative markets data provider Preqin could lead to the indexing of private markets, while assuring that BlackRock’s clients will also have the ability to access Preqin as a stand-alone service once the transaction closes.

BlackRock has agreed to acquire Preqin, an independent provider of private markets data for £2.55bn or approximately $3.2bn in cash.

BlackRock could start offering indexes and exchange-traded funds (ETFs) for private markets, the asset manager said on Monday, after it announced a deal to buy data provider Preqin for nearly $3.2 billion.

BlackRock Inc. will acquire private capital database provider Preqin for £2.55 billion ($3.2 billion) in cash, as the world’s largest money manager accelerates its push to become a major player in alternative assets.