As part of its ongoing push into alternative investments, including commercial real estate, BlackRock has acquired data provider Preqin in a $3.22 billion deal. The transaction also illustrates the growing role data is playing for not only BlackRock but other companies that are using technologies such as artificial intelligence to make decisions.
"We see data powering the industry across technology, capital formation, investing and risk management," Rob Goldstein, BlackRock chief operating officer, said.
BlackRock expects the deal to close before the end of the year pending regulatory approvals.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Unlimited access to GlobeSt and other free ALM publications
- Access to 15 years of GlobeSt archives
- Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
- 1 free article* every 30 days across the ALM subscription network
- Exclusive discounts on ALM events and publications
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
