BlackRock, which manages more than $10 trillion, is seeking to capitalise on a boom in demand from investors for alternative assets, which includes anything from private equity to infrastructure. In January BlackRock announced a deal to buy Global Infrastructure Partners (GIP) for $12.5 billion, while other investment firms have also struck recent deals.
Demand for financial data and research has led to a wave of dealmaking in the sector in recent years. Among the biggest was S&P Global's $44 billion all-stock purchase of IHS Markit that completed in 2022.
In a statement, BlackRock said that the acquisition would complement its Aladdin tech business by bringing together data, research, and investment process for fund managers.
Aladdin is BlackRock's portfolio management software which provides investment professionals a way to view and manage daily investments.
(source:Reuters)
