As Private Markets Boomed, So Did Initiatives to Close Data Gaps

In March last year, BlackRock closed its $3.2 billion acquisition of Preqin. It established the world’s biggest investment manager as a premier provider of private-markets data, “accelerating clients’ ability to allocate to the growth of private markets and furthering our aspirations to deliver greater value across their whole portfolios,” said chief operating officer Rob Goldstein.

Exactly 11 months later it was announced that Preqin was integrated into BlackRock Aladdin’s eFront, giving institutional investors “comprehensive research, due diligence and portfolio monitoring tools” on that single platform. “For the first time, clients can bring pre-investment intelligence and post-investment analytics together in a single, integrated workflow, narrowing the gap between how institutional investors manage assets across private and public portfolios,” said Sloane Collins, head of product for Aladdin Private Markets.

The BlackRock-Preqin tie-up may be “redefining the standard for private markets technology and data,” in Collins’ words. But it does not have the field to itself. The burgeoning sector is ripe for competition and...