Skadden, Arps, Slate, Meagher & Flom has played a pivotal role in advising BlackRock, Inc. on its recent acquisition of Preqin, a private markets data provider, for approximately $3.2 billion in cash. Macfarlanes represented Preqin in the transaction, highlighting the strategic collaboration between these two prominent law firms.
This acquisition is poised to significantly enhance BlackRock’s data capabilities, empowering the asset management giant to delve deeper into private market analyses and broaden its Aladdin technology systems. According to BlackRock’s statement, this expansion is a pivotal move to better serve the burgeoning market for private assets.
Skadden’s deal team was led by corporate partners Richard Youle, co-head of the firm’s private equity group and head of the London office, and Katja Butler, co-head of Skadden’s UK corporate practice. Other notable contributors included antitrust and competition partner Kenneth Schwartz, tax partner Alex Jupp, financial institutions regulatory partner Sebastian Barling, intellectual property and technology partner Resa Schlossberg, executive compensation and benefits partner Shalom Huber, and capital markets partner Laura Kaufmann-Belkhayat.
On the other hand, the Macfarlanes team leading the deal comprised corporate and M&A partners Howard Corney, head of the firm’s M&A group, Alex Edmondson, head of the firm’s private equity practice, and Tim Redman.
The transaction is slated to close by the end of the year, contingent on closing conditions and regulatory approvals.
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