London Inventory Trade Group and S&P International Amongst Potential Bidders for Information Supplier Preqin, Valued at Over $2 Billion

2024-06-05 14:41:51

London Inventory Trade Group and S&P International are amongst potential bidders for information supplier Preqin, mentioned 4 individuals with information of the state of affairs.

The homeowners of a British information firm that targets the personal fairness trade are contemplating choices, together with a full sale of the corporate, and are being suggested by Goldman Sachs, three of those individuals mentioned.

Individuals monitoring the sale, which was first reported by the Monetary Occasions and is now in its second spherical, imagine it may fetch greater than $2 billion, the three mentioned, talking on situation of anonymity as a result of the method is personal.

S&P has already entered right into a strategic partnership with Preqin to share information on their respective platforms.

Preqin, S&P, LSEG and Goldman Sachs declined to remark. Founder Mark O’Hare owns a majority stake in Preqin, in accordance with a doc filed at Firms Home. Mr O’Hare didn’t reply to a request for remark.

Preqin was based in 2003 and focuses on information associated to the choice investments trade. The British firm has subscribers in additional than 90 nations, in accordance with Firms Home filings.

Income for the yr ending December 31, 2022 was £134 million ($171 million), up 45% on 2021, in accordance with filings with Firms Home. The £7.9 million working loss widened from the £3.2 million loss recorded in 2021.

In 2021, Preqin acquired a majority stake in fund administration information supplier Colmore.

LSEG purchased Refinitiv in January 2021 for $27 billion to compete extra successfully with world market information chief Bloomberg. LSEG pays Reuters for the knowledge.

($1 = 0.7823 kilos)