Reported 12 months ago
BlackRock Inc. CEO Larry Fink announced that the firm's acquisition of data provider Preqin will enable them to extend their index fund format to rapidly growing assets. This move signifies BlackRock's intention to become a major player in alternative assets by applying the principles of indexing to private markets, providing broader access to private assets through data and analytics. Private markets, set to reach nearly $40 trillion in alternative assets by 2030, are experiencing increasing demand for relevant data, with the Preqin deal aimed at driving the democratization of all alternatives.
Source: YAHOO