The London Stock Exchange Group and S&P Global 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.
Source: Reuters.com