LSEG, S&P among potential bidders for data provider Preqin, sources say

LONDON/NEW YORK : The London Inventory Commerce Crew and S&P World are amongst potential bidders for knowledge provider Preqin, four of us with knowledge of the placement said.

The owners of the UK knowledge firm that specializes within the internal most fairness change are taking into consideration alternatives alongside side a stout sale of the change, and are being told by Goldman Sachs, three of the of us said.

Those following the sale, first reported by the Financial Times and now in its 2nd spherical, imagine it goes to moreover elevate north of $2 billion, the three of us said, speaking on situation of anonymity since the technique is internal most.

S&P already has a strategic partnership with Preqin to allotment knowledge on their respective platforms.

Preqin, S&P, LSEG and Goldman Sachs declined to comment. Founder Build O’Hare has a controlling stake in Preqin basically basically based completely on Corporations Rental filings. O’Hare did now not reply to a matter of for comment.

Preqin became founded in 2003 and specialises in knowledge in regards to the alternative funding change. The UK-basically basically based completely company has subscribers in extra than 90 worldwide locations, basically basically based completely on a Corporations Rental submitting.

Revenue for the yr ending Dec. 31 2022 became 134 million kilos ($171 million), an enlarge of forty five per cent on 2021, basically basically based completely on its Corporations Rental filings. An operating loss of 7.9 million kilos widened from a 3.2 million pound loss in 2021.

In 2021, Preqin offered a controlling stake in fund administration knowledge provider Colmore.

LSEG offered Refinitiv in January 2021 for $27 billion to compete extra effectively with world market knowledge leader Bloomberg. LSEG will pay Reuters for news.

($1 = 0.7823 kilos)