Market data for private markets? BlackRock sees its big opportunity
The investment giant’s CEO said he envisions a far bigger private market business in 2025.
Six months after BlackRock made heads turn by shelling out a whopping $3.2 billion for private markets data provider Preqin, the asset manager’s CEO, Larry Fink, said that the need for better market data and analytics in private markets was the primary reason behind the Preqin acquisition and its purchase of investment software provider eFront in 2019.
Speaking on the firm’s Q4 earnings call Wednesday morning, Fink continued that the data BlackRock will possess will give “the entire market”
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