Preqin acquires Colmore to support clients through the private market investment lifecycle
Acquisition to boost transparency in alternative assets
In a drive to better serve its clients and increase transparency and understanding of private markets, Preqin — the global leader in alternative assets data, analytics and insights — is delighted to announce today that it has acquired Colmore, a leading private markets technology, services and administration business.
Preqin supports more than 110,000 professionals globally in raising capital, sourcing deals and investments and understanding performance by providing them with the most comprehensive alternative assets data and insights. Colmore’s key solutions include portfolio monitoring, analytics, fee tracking and validation, and fund administration services for its LP and allocator clients. The rapidly growing business monitors more than 3,000 private market funds and more than 40,000 holdings.
The new alliance with Colmore will allow Preqin to serve its clients across the entire private market investment lifecycle — from fundraising to due diligence and portfolio monitoring. Preqin also intends to enhance its market-leading benchmarks in partnership with Colmore, giving both companies’ clients the ability to compare their performance against the industry’s most accurate, timely and transparent benchmarks.
The acquisition solidifies Preqin’s position as a leader in the private markets. According to Preqin data, the alternatives assets industry is expected to grow rapidly from $12.5tn AUM in 2020 to more than $20tn AUM by the end of 2025. A growing number of institutional investors are looking to the private markets, demanding cutting edge technology, data and integrated accounting and administration services. This helps them to better understand the market and streamline their operations, as they face new complexities from a heightened focus on ESG and diversification into new geographies and asset classes.
Ben Cook, CEO at Colmore, says: “It’s a huge day for Colmore. We’re delighted to announce our partnership with Preqin. Clients will get the best of our administration, monitoring and fee validation services, enhanced by Preqin’s global private markets data. Clients will be able to see their invested fund information, together with wider industry data, all in one place. We’re really excited about the future.”
Mark O’Hare, founder and CEO at Preqin, adds: “Colmore and Preqin both share the same vision — to make our industry more accessible by providing our clients with data and insights so they can make investment decisions with confidence. Preqin is delighted to have Colmore join the Preqin family. We have big plans for the future as we continue to enhance our solutions, and we cannot wait to get started.”
Preqin and Colmore successfully closed the transaction on August 5, 2021. Colmore will be fully owned by Preqin and run as an independent and standalone business. Ben Cook will remain the CEO of Colmore and join Preqin’s Executive Committee. Both companies are planning to rapidly expand their headcount, and are committed to continue to grow their technology and product offerings.
Terms of the acquisition were not disclosed. Houlihan Lokey acted as the exclusive financial advisor to Colmore on this transaction, with DC Advisory advising Preqin. Clifford Chance served as the legal advisor to Colmore, with DLA Piper advising Preqin.