The largest asset manager in the world, BlackRock, is purchasing Preqin, a company that specializes in analytics and information on alternative assets and the private equity industry.
The founder of Preqin, Mark O’Hare, and his family holding firm, Valhalla Ventures, will get around £2.04 billion from the sale.
The management and staff of Preqin, which has operations close to London’s Victoria station and employs over 500 individuals throughout all major financial hubs worldwide, including New York, Tokyo, Singapore, and Hong Kong, will split the remaining £510 million.
As a result, several of them are anticipated to become multimillionaires.
Surprisingly, the agreement will result in Mr. O’Hare’s personal net worth surpassing that of BlackRock’s founder, chairman, and CEO, Larry Fink, who is regarded as one of the most powerful people in the financial industry.
“BlackRock is known for excellence in both investment management and financial technology, and together we can accelerate our efforts to deliver better private markets data and analytics to all of our clients at scale,” stated Mr. O’Hare, who will become a vice chair at BlackRock today.
I’m excited to work for BlackRock and contribute to Preqin’s and our clients’ ongoing success and growth..
