Global investment management firm Barings has supported Preqin, one of the market leaders for data and research to the alternative assets industry, via a senior secured facility to finance the acquisition of Colmore, one of the leading providers of software and analysis to global investors.
Financial terms were not disclosed in the funding announcement on 12 August.
Joseph Buckley, director, Barings European Private Finance group, said: "For years, Preqin has provided crucial information and actionable data to a long list of blue chip customers across the financial services industry. The acquisition of Colmore will further bolster their offering and distinguish the company as the preeminent private markets data provider. We are delighted to support Preqin in this new chapter of its growth."
For years, Preqin has provided crucial information and actionable data to a long list of blue chip customers across the financial services industry. The acquisition of Colmore will further bolster their offering."
He added: "We continue to seek out high quality businesses with sustainable differentiation and the combination of Preqin and Colmore certainly represents this."
Preqin provides visibility into the opaque private markets with in-depth coverage of all major asset classes ranging from private equity, venture capital, hedge funds, real estate, infrastructure, secondaries, and more.
Colmore's alternative assets portfolio monitoring and fund administration platform allows investors to manage their portfolio in real-time.
Clients will benefit from integrated services that combine a perspective on the overall market with insights on the individual portfolio, Barings said.
Barings Global Private Finance is a 60+ investment team globally, with a 40-year track record of financing middle-market buyouts, acquisitions, and recapitalizations.
Barings is a $382+bn AUM (as at 30 June 2021) global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets.
With investment staff based in North America, Europe and Asia Pacific, the firm is a subsidiary of MassMutual.