BlackRock’s Acquisition of Preqin Secures UK Regulatory Approval

BlackRock’s $3.2 billion acquisition of private markets data firm Preqin has received approval from the UK’s Competition and Markets Authority (CMA), according to an update published on the regulator’s website on February 12. The clearance removes regulatory hurdles for the asset management giant as it strengthens its position in the rapidly expanding private markets sector.

Per a statement from BlackRock, the private markets data industry is currently valued at approximately $8 billion and is projected to more than double, reaching $18 billion by 2030. The acquisition of Preqin, which tracks data on 190,000 funds globally and serves over 200,000 users—including asset managers, insurers, pension funds, wealth managers, and banks—aligns with BlackRock’s broader strategy of integrating technology and data to enhance investment capabilities.

According to a statement from BlackRock, the firm plans to combine Preqin’s data capabilities with its Aladdin platform, aiming to create a leading private markets technology and data provider. BlackRock CEO Larry Fink has previously stated that the deal has the potential to “index the private markets,” underscoring the company’s ambitions to bring greater transparency to a historically opaque segment of finance.

The CMA’s decision comes amid broader scrutiny of the watchdog’s role following the UK government’s recent dismissal of its chair, former Boston Consulting Group partner Marcus Bokkerink. The regulator has faced pressure to facilitate economic growth while maintaining competition oversight. In addition to reviewing BlackRock’s acquisition, the CMA has been investigating other major financial transactions, including Nationwide Building Society’s £2.9 billion takeover of Virgin Money.

Source: BlackRock