Praveen Paranjothi on Newnex: BlackRock is set to acquire Preqin for…

BlackRock is set to acquire Preqin for a reported $3.2 billion in…

Praveen Paranjothi · 2024-07-01T06:49:23.000Z

BlackRock is set to acquire Preqin for a reported $3.2 billion in cash. With Preqin's revenue estimated between $75 million and $100 million, this deal achieves an impressive 32x+ revenue multiple . But there's more to the story. "Private markets are the fastest-growing segment of asset management, with alternative assets expected to reach nearly $40 trillion by the end of the decade." Despite this growth, digitalization in private equity (PE) and venture capital (VC) remains low. That's why we launched Newnex, a global platform for digital deal-making tailored for institutional investors. Today, over 50 VCs managing more than $6 billion AUM have embraced Newnex. Digitalization and passive funds will be soon revolutioninzing private markets, and top-tier funds have just begun to build a digital moat. https://finance.yahoo.com/news/blackrock-acquire-preqin-leading-private-004200579.html

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Praveen Paranjothi on Newnex: BlackRock is set to acquire Preqin for…