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Preqin
Preqin
Preqin
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Preqin Ltd. is a privately held London-based investment data company that provides financial data and insight on the alternative assets market, as well as tools to support investment in alternatives.

Key Information

By the company's own definition, its data encompasses private capital and hedge funds, including fund, fund manager, investor, performance and deal information. The asset classes it covers are: private equity, venture capital, hedge funds, private debt, real estate, infrastructure, natural resources and secondaries.

Preqin competes with companies such as Pitchbook, CapitalIQ, Burgess, Octum AI, Tracxn, Crunchbase, and other financial databases.

History

[edit]

Launched as Private Equity Intelligence in 2003, the firm founded by Mark O’Hare and Nick Arnott began by listing private equity performance data, relying on the Freedom of Information Act (UK FOIA).[1]

In 2018, it launched a research report titled Women in Alternatives, which detailed underrepresentation of women in the alternative assets industry. [2] Preqin won The Queen's Award for Enterprise in International Trade in 2016 and 2019,[3] was a national winner at the 2019 European Business Awards,[4] and was named as part of the Sunday Times International Track 200 in the same year.[5]

In August 2021, Preqin fully acquired Colmore,[6] a leading private markets technology, services and administration business.[7] On July 1, 2024, BlackRock announced that it would acquire the company for £2.55 billion,[8] with the aim of combining its data and research tools with Aladdin.[9]

In March 2025, it was announced that BlackRock had completed the purchase of Preqin, considering a value of US$3.2 billion for full control of the company.[10]

References

[edit]
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Preqin

View on Grokipedia
from Grokipedia
Preqin is a leading independent provider of data, analytics, and insights on alternative assets, including , , natural resources, and funds, serving over 200,000 professionals globally in the investment industry. Founded in 2003 by Mark O'Hare and headquartered in , , the company has grown into the world's largest database for private markets, offering tools for performance, intelligence, and to support in opaque . Originally launched as Private Equity Intelligence, Preqin expanded its coverage to encompass a broad spectrum of alternative investments, establishing offices in 16 global locations such as New York, , and to better serve institutional investors, fund managers, and consultants. Its proprietary datasets track (AUM) exceeding $15 trillion across alternatives, providing essential transparency in a sector often characterized by limited public disclosure. In June 2024, BlackRock announced its acquisition of Preqin for £2.55 billion (approximately $3.2 billion), a deal completed on March 3, 2025, integrating the firm as an independent entity within BlackRock's Aladdin platform to bolster private markets capabilities and client services. This transaction, cleared by the UK Competition and Markets Authority in February 2025, positions Preqin at the forefront of combining public and private asset data analytics amid growing demand for holistic portfolio insights.

Overview

Founding and early operations

Preqin was founded in 2003 in , , initially operating under the name Private Equity Intelligence. The company was established by Mark O'Hare, a mathematics graduate and serial entrepreneur with prior experience at the , and Nick Arnott, who held a computing degree from the . From its inception, Preqin focused on compiling and listing performance data to address the lack of transparency in the nascent alternative investments sector. The firm's early activities centered on creating a database for fund performance , enabling investors and managers to track metrics such as fundraising totals, fund sizes, and returns. This effort began modestly, with data sourced from public filings, industry reports, and direct outreach to private equity firms. Initial operations involved the publication of Spotlight, a monthly newsletter that provided analysis on trends, investor activities, and market developments, serving as a key outlet for disseminating the compiled data. Access to the database and related insights was offered through a subscription model, targeting professionals in private markets who required reliable tools. Over time, this foundation in private equity data laid the groundwork for broader coverage of alternative assets.

Business model and market position

Preqin operates on a subscription-based , providing , , and insights primarily to institutional investors, fund managers, and investment consultants in the alternative assets sector, including , hedge funds, , , and natural resources. This model targets professional users seeking comprehensive market intelligence to support decisions across the private markets lifecycle. As of June 2025, Preqin's database covers over 220,000 funds, 64,621 active fund managers, and 36,249 private-market investors, enabling detailed tracking of , , and deal activity in these . These figures reflect Preqin's extensive data collection through sources like Act requests and voluntary contributions from industry participants. Following its acquisition by in February 2025 and integration as an independent entity within the platform, Preqin has enhanced its data capabilities, combining public and private market analytics. Preqin holds a leading market position as a provider of private markets data, widely recognized for its benchmarks that facilitate performance evaluation, deal sourcing, and strategic market intelligence.

History

Establishment and initial growth (2003–2010)

Preqin was founded in 2003 in by Mark O'Hare and Nick Arnott under the name Private Equity Intelligence, with an initial focus on compiling and distributing data related to fundraising and fund performance. The company launched as a service, addressing a gap in accessible, reliable information for the opaque market at a time when global alternative stood at approximately $1 trillion. This publication quickly gained traction among institutional investors and fund managers seeking insights into deal activity, investor commitments, and returns, establishing an early subscriber base centered in and . By the mid-2000s, Private Equity Intelligence had evolved from its newsletter origins into a more robust online database platform, enabling users to query detailed profiles on funds, general partners, and limited partners. This transition supported growing demand for structured data amid rising private equity activity, with the company's coverage expanding to include benchmarks and performance metrics derived from voluntary disclosures and public filings. The platform's development marked a key milestone in standardizing alternative assets intelligence, positioning the firm as an essential resource for and in a sector previously reliant on fragmented sources. In 2008, amid the global financial crisis, the company underwent a rebranding to Preqin Ltd., reflecting its broadening scope beyond into other alternative investments such as . This period saw Preqin intensify data collection on strategies and performance, which proved vital as investors reassessed portfolios during market volatility; reports from the era highlight how the firm's datasets tracked shifts in allocations and returns across distressed assets and liquid alternatives. By late 2009, Preqin had established a presence in New York at 230 , marking its first international office and facilitating deeper penetration into the North American market. Through these formative years, Preqin built a client base exceeding 1,000 subscribers by 2010, including major funds, endowments, and advisors who relied on its databases for and intelligence. This growth underscored the firm's role in enhancing transparency in private markets, even as tested the resilience of alternative investments, with Preqin's analyses informing strategic decisions during a time of reduced and heightened scrutiny.

Expansion and product development (2011–2023)

During 2011 to 2015, Preqin intensified its internationalization efforts by strengthening its presence in , building on its regional hub established in in 2010 and opening a new office in in 2015 to better serve the growing alternative assets market in the region. This expansion coincided with enhanced data coverage in key , including the addition of comprehensive and datasets, highlighted by the publication of Preqin's inaugural Global Infrastructure Report in 2015, which analyzed deal activity and investor trends across these sectors. From 2016 to 2020, Preqin focused on advancing its technological capabilities through the development of sophisticated tools integrated into its core platforms, enabling deeper insights into private market dynamics amid surging investor interest in alternatives. The company's database expanded significantly during this time, growing to encompass more than 100,000 funds by 2020, reflecting the broader proliferation of , , and other alternative vehicles globally. Although specific acquisitions of smaller data firms were limited, Preqin's strategic growth emphasized organic enhancements and partnerships to bolster its market position. In the 2021 to 2023 period, Preqin underwent a leadership transition with the appointment of Christoph Knaack as CEO effective January 1, 2022, succeeding Mark O'Hare and steering the company toward innovative data solutions in a maturing alternatives landscape. In August 2021, Preqin acquired Colmore, a leading private markets technology, services, and administration business, to support clients through the full lifecycle from to and portfolio . Under this direction, the firm prioritized AI-driven insights to improve and , alongside deeper integration of ESG metrics into its offerings, as detailed in annual ESG in Alternatives reports that tracked and policy adoption trends from 2021 onward. By 2023, Preqin's client base had surpassed 200,000 professionals worldwide, underscoring its pivotal role in supporting decisions across the sector.

Acquisition by BlackRock (2024–2025)

In June 2024, BlackRock announced its agreement to acquire Preqin for £2.55 billion (approximately $3.2 billion) in an all-cash transaction, aiming to bolster its private markets data and analytics capabilities by integrating Preqin's extensive dataset with BlackRock's Aladdin platform. The deal, valued at an enterprise level, was positioned as a strategic move to address the growing demand for comprehensive private markets intelligence among institutional investors and fund managers. The acquisition faced regulatory scrutiny when, on December 13, 2024, the UK Competition and Markets Authority (CMA) initiated a Phase 1 antitrust investigation due to concerns about potential in the provision of private assets data services. The probe examined whether the merger could reduce competition in data analytics and for alternative investments, given Preqin's position as a leading independent provider. Despite this review, the CMA cleared the transaction on February 12, 2025, without requiring remedies. The acquisition closed on March 3, 2025, enabling to fully integrate Preqin as a within its private markets division, with founder Mark O'Hare joining as Vice Chair. In this structure, Preqin continues to operate independently while its data and tools enhance 's offerings for portfolio management and investor reporting in private markets. As of late 2025, Preqin has maintained its operations, releasing quarterly updates such as the APAC Q3 2025 report and expanding partnerships, including a agreement with LSEG announced on October 29, 2025.

Products and services

Data platforms and tools

Preqin Pro serves as the flagship data platform for accessing comprehensive alternative assets information, offering over 50 years of historical across more than 135,000 funds, including details on institutional investors, fund managers, service providers, funds, metrics, deals, and transactions. This platform enables advanced search functionalities tailored for identifying funds and investors, allowing users to filter by criteria such as asset class, year, geography, and strategy to support informed decision-making in private markets. Customizable dashboards within Preqin Pro facilitate deal sourcing by tracking market trends, new fund launches, and potential opportunities, while also providing tools for analysis through and personalized metrics. Company Intelligence, a specialized module integrated into Preqin Pro, delivers in-depth profiles on private companies, encompassing both sponsor-backed firms and bootstrapped entities, with coverage extending to over 24,000 non-sponsor-backed companies and hundreds of thousands overall, including assets. It provides granular asset details such as financials, structures, and transaction histories, linking these to broader fund performance data to offer a complete view of private capital flows and investment value assessment. Key features include valuations, multiples, and returns data, enabling users to conduct , identify investment targets, and optimize portfolios by analyzing millions of data points across sponsor-backed and bootstrapped firms meeting criteria like £1 million+ turnover and at least three years of operations for UK-based bootstrapped companies. Following BlackRock's acquisition in February 2025, Preqin has introduced integrations with BlackRock's platform, allowing joint customers seamless access to combined public and private markets data. Additionally, in February 2025, Preqin launched the Allocator Hub, a global alternatives platform aimed at addressing transparency gaps in private markets through enhanced data analytics and portfolio tools. Preqin Anywhere encompasses and integration tools designed to embed Preqin directly into client systems, supporting seamless access for over 100 feeds covering general partners, limited partners, funds, , and private company financials. These tools include pre-built integrations with leading (CRM) platforms such as DealCloud, Backstop Solutions, Dynamo Software, Altvia, and , as well as connections to analytics environments like Data Marketplace and AWS Data Exchange. The Feeds allows for bulk extraction and timely updates on key events like activities and exits, eliminating manual transfers and enabling real-time workflow enhancements for investment teams.

Research and insights offerings

Preqin Insights+ is a subscription-based service offering in-depth analytical reports on alternative asset classes, including quarterly updates that examine market trends such as activity, deal volumes, and sentiment across , , and other sectors. These reports provide expert commentary on LP and GP allocation strategies, with sector-specific analyses like private equity dry powder levels, highlighting sustained capital availability amid slower deployment as of mid-2025. Drawing from Preqin's proprietary datasets, the service also includes annual Global Reports and forward-looking publications like the Future of Alternatives, delivering actionable insights for institutional s and fund managers. Preqin's benchmarks provide standardized performance metrics for alternative assets, enabling comparisons of fund returns using net internal rate of return (IRR) and distribution-to-paid-in capital (DPI) multiples. Funds are ranked into quartiles based on equal weighting of their IRR and multiple positions relative to peers within the same vintage year, with top-quartile funds defined as those exceeding the upper-quartile benchmark for either metric. This methodology supports league tables and performance persistence analysis, where Preqin data shows that consistent top-quartile private equity funds often maintain strong returns across multiple vintages, aiding LPs in portfolio evaluation. Preqin also produces league tables ranking top-performing private equity funds based on net IRR, derived from the most current data spanning the last five quarters. These tables categorize funds by asset class, vintage year, fund size, geographic focus, and other factors, highlighting top performers and most consistent performers. Specific fund names, detailed performance figures, and full rankings require subscription access to Preqin Pro or reports, while aggregated performance benchmarks are published in quarterly reports such as the Preqin Benchmarks Private Markets Performance Data. Recognized as the most widely used benchmarking tool in the industry, these metrics cover over 20,000 funds and are updated quarterly to reflect the latest net-to-LP performance data. Preqin delivers targeted educational resources for private markets professionals, featuring modular live training programs that cover foundational and advanced topics in alternative investing. The core offering includes seven interactive sessions on asset classes like and funds, supplemented by access to Insights+ research for practical application. Additionally, Preqin hosts regular webinars, such as the annual Global Reports series, which dissect emerging trends and strategies for 2025, including fundraising challenges and performance drivers in and private debt. These programs emphasize conceptual understanding of market dynamics and , tailored for institutional allocators and fund teams seeking to enhance in illiquid assets.

Corporate affairs

Leadership and governance

Preqin is led by Christoph Knaack, who was appointed to the role in January 2022. Prior to his CEO appointment, Knaack served as Preqin's Chief Strategy & Product Officer since joining the company in 2020. Under his , the firm has emphasized strategic product enhancements during a period of expansion. The company was founded in 2003 by Mark O'Hare, who served as CEO until 2021. Following the acquisition by in 2025, O'Hare joined BlackRock as a Vice Chair, working to leverage Preqin's data and technology within BlackRock's platform. Since its acquisition by in February 2025, Preqin operates as an independent business unit, with its leadership and board focused on alternative assets data while aligning with BlackRock's broader platform. Preqin's executive team includes Chris Ferguson, responsible for financial strategy and operations, and Tom Hunt, who oversees technology infrastructure and innovation. Additional senior roles encompass executive vice presidents in operations and sales, supporting the firm's global delivery of and services. The comprises independent members with expertise in , including oversight of and compliance practices critical to Preqin's role in alternative assets . This structure ensures alignment with regulatory standards and ethical handling, as outlined in the company's strategic reports.

Global presence and operations

Preqin is headquartered in , , at 10 Bressenden Place. The company maintains 16 offices worldwide to support its global operations, including locations in the United States (New York, , , and ), (, , , and ), the (Dubai), (Bangalore), and (), along with additional sites in Birmingham () and (). As of 2025, Preqin employs approximately 1,600 people globally, with specialized teams focused on data collection, client support, and research and development. These teams collaborate across regions to gather and validate alternative assets data from industry professionals worldwide. Preqin's operations prioritize data accuracy through proprietary sourcing methods, including one-to-one interactions with market participants and direct submissions via secure portals. The company ensures regulatory compliance, adhering to the General Data Protection Regulation (GDPR) through standard contractual clauses for data transfers. In the U.S., Preqin aligns with Securities and Exchange Commission (SEC) requirements relevant to financial data providers, as evidenced by its engagement with SEC private fund rules. Its cloud-based platform supports continuous access for users, facilitating round-the-clock availability for essential market intelligence.

References

  1. https://www.preqin.com/about/who-we-are
  2. https://www.preqin.com/about/careers/life-at-preqin/case-study/preqin-celebrates-20-years-in-alternative-assets
  3. https://www.preqin.com/data/profile/asset/preqin-ltd/452701
  4. https://pitchbook.com/profiles/company/94267-18
  5. https://www.preqin.com/
  6. https://www.bloomberg.com/profile/company/0045503D:LN
  7. https://www.blackrock.com/aladdin/discover/preqin
  8. https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-completes-preqin-acquisition
  9. https://www.gov.uk/cma-cases/blackrock-slash-preqin-merger-inquiry
  10. https://alternativecreditinvestor.com/2025/03/04/blackrock-completes-preqin-acquisition/
  11. https://tracxn.com/d/companies/preqin/__5ESwoBayKu_RCOfn2zPfKL-7Gm0oSgTGmRjh7tJQRFU
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  13. https://www.efinancialcareers.com/news/mark-o-hare-preqin
  14. https://www.thetimes.com/business-money/companies/article/preqin-sale-to-blackrock-makes-founder-a-billionaire-j9rfhtgvx
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  16. https://www.opalesque.com/files/PE1.pdf
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  27. https://find-and-update.company-information.service.gov.uk/company/04456744/filing-history
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  30. https://docs.preqin.com/reports/Preqin_Q4_2010_Performance_Report.pdf
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  32. https://docs.preqin.com/reports/2015-Preqin-Global-Infrastructure-Report-Sample-Pages.pdf
  33. https://www.preqin.com/help-center/articles/view/benchmarking
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  35. https://www.prnewswire.com/news-releases/preqin-acquires-colmore-to-support-clients-through-the-private-market-investment-lifecycle-301352546.html
  36. https://docs.preqin.com/pro/Preqin-ESG-Solutions-Methodology.pdf
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  39. https://assets.publishing.service.gov.uk/media/67dbd3dc1a60f7964302849b/Full_text_decision.pdf
  40. https://www.preqin.com/about/press-release/blackrock-establishes-preeminent-private-markets-technology-and-data
  41. https://www.preqin.com/insights/research/quarterly-updates/apac-q3-2025-preqin-quarterly-update
  42. https://www.lseg.com/en/media-centre/press-releases/2025/lseg-expands-partnership-with-blackrock
  43. https://www.preqin.com/solutions/know-your-market
  44. https://www.preqin.com/help-center/articles/view/searching-for-exits
  45. https://www.preqin.com/solutions/streamline-your-reporting
  46. https://www.preqin.com/help-center/articles/view/portfolio-company-asset-profiles
  47. https://www.preqin.com/our-products/company-intelligence
  48. https://www.preqin.com/solutions/source-new-investments
  49. https://citywire.com/pro-buyer/news/blackrocks-preqin-launches-global-alts-platform/a2459750
  50. https://www.preqin.com/our-products/data-feeds
  51. https://www.preqin.com/our-products/preqin-anywhere
  52. https://www.preqin.com/help-center/articles/view/-introducing-data-feeds-api-preqin-data-delivered-directly-in-your-systems
  53. https://www.preqin.com/our-products/insights-plus
  54. https://www.preqin.com/insights/research/quarterly-updates/private-equity-q2-2025-preqin-quarterly-update
  55. https://www.preqin.com/c/insights-plus-quarterly-updates
  56. https://www.preqin.com/help-center/articles/view/preqin-league-tables-private-capital-performance-methodology-2025
  57. https://docs.preqin.com/pro/Private-Capital-Performance-Guide.pdf
  58. https://www.preqin.com/data/preqin-benchmarks-fund-performance
  59. https://www.preqin.com/academy
  60. https://www.preqin.com/insights/conferences-and-events/webinars/private-debt-in-2025
  61. https://www.preqin.com/education
  62. https://www.businesswire.com/news/home/20200820005442/en/Christoph-Knaack-Joins-Preqin-as-Chief-Strategy-Officer
  63. https://craft.co/preqin/executives
  64. https://www.preqin.com/policies/compliance
  65. https://assets.ctfassets.net/zf87m07ner47/2SugUB8SpAQbzjSA088HMr/b0f1c063f7e5850900a3d68046240b64/s172.pdf
  66. https://craft.co/preqin/locations
  67. https://www.preqin.com/contact-us
  68. https://www.preqin.com/data/data-collection
  69. https://www.preqin.com/policies/terms-conditions-scc
  70. https://www.preqin.com/insights/research/blogs/new-sec-rules-lay-groundwork-for-private-funds-regulatory-framework
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