financetom
Business
financetom
/
Business
/
LSEG, S&P among potential bidders for data provider Preqin, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
LSEG, S&P among potential bidders for data provider Preqin, sources say
Jun 5, 2024 7:20 AM

LONDON/NEW YORK, June 5 (Reuters) - The London Stock

Exchange Group ( LDNXF ) and S&P Global ( SPGI ) are among

potential bidders for data provider Preqin, four people with

knowledge of the situation said.

The owners of the UK data firm that focuses on the private

equity industry are considering options including a full sale of

the business, and are being advised by Goldman Sachs, three of

the people said.

Those following the sale, first reported by the Financial

Times and now in its second round, believe it could raise north

of $2 billion, the three people said, speaking on condition of

anonymity because the process is private.

S&P already has a strategic partnership with Preqin to share

data on their respective platforms.

Preqin, S&P, LSEG and Goldman Sachs declined to comment.

Founder Mark O'Hare has a controlling stake in Preqin according

to Companies House filings. O'Hare did not respond to a request

for comment.

Preqin was founded in 2003 and specialises in data about the

alternative investment industry. The UK-based company has

subscribers in more than 90 countries, according to a Companies

House filing.

Revenue for the year ending Dec. 31 2022 was 134 million

pounds ($171 million), an increase of 45% on 2021, according to

its Companies House filings. An operating loss of 7.9 million

pounds widened from a 3.2 million pound loss in 2021.

In 2021, Preqin bought a controlling stake in fund

administration data provider Colmore.

LSEG bought Refinitiv in January 2021 for $27 billion to

compete more effectively with global market data leader

Bloomberg. LSEG pays Reuters for news.

($1 = 0.7823 pounds)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved