S&P Global inks USD1.8b deal to acquire private markets firm With Intelligence
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The news: S&P Global agreed to buy private markets data provider With Intelligence as it seeks to grow its product offering for the expanding market segment.
The numbers: S&P Global will pay USD1.8 billion ($2.76 billion) for the firm, which serves more than 3,000 clients globally and is expected to generate roughly USD130 million in revenues this year.
The context: The deal will give S&P Global access to a trove of proprietary data from private capital groups. With Intelligence’s data assets include coverage across 30,000 investors, including private equity, private credit, infrastructure, hedge funds and family offices, 30,000 managers, 70,000 funds, and over 350,000 deals.
Private markets have gained sizeable investor interest amid higher interest rates and muted exits pressuring private valuations, while industry leaders are also raising concerns about potential asset price bubbles across public markets.
What they said: "Private markets is one of the most dynamic and fast-growing areas of global finance and providing innovative and differentiated data, benchmarks and workflow solutions in this space is a key strategic priority for S&P Global," said Martina Cheung, president and CEO of S&P Global.
The source: S&P Global
