BlackRock's Preqin Deal Boosts Private Credit Transparency

Person holding a credit card and smartphone, indoor close-up view. Photo: Phasha 360/Pexels

BlackRock Aladdin has expanded its private credit capabilities on the Preqin platform, marking a significant shift in the industry. This move comes after BlackRock’s £2.55 billion acquisition of Preqin, signaling a push toward greater transparency in private markets.

A $2 Trillion Market in Transition

Private credit is projected to surpass $2 trillion in assets under management by the end of 2026, with some estimates reaching $4 trillion by 2030. This growth is accompanied by a shift in focus. While mid-market corporate lending remains important, Asset-Backed Finance (ABF) is emerging as a key driver. ABF encompasses diverse assets like consumer loans, data center infrastructure, and electrified transport, offering investors a way to diversify beyond the traditional corporate credit cycle.

This evolution demands high-quality data. The integration of Aladdin’s analytics with Preqin’s data addresses a critical industry challenge: the lack of standardized, real-time information across various fund structures.

Breaking Down Data Silos

Historically, private credit data has been fragmented, with different reporting standards for closed-end funds, Business Development Companies (BDCs), and semi-liquid vehicles. Aladdin’s integration with Preqin Pro tackles this issue by:

Providing a unified research and analytics platform, allowing investors to analyze underlying asset-level data beyond static fund reports.
Establishing standardized benchmarks for key metrics like money multiples, leverage ratios, valuation trends, and recovery rates, enabling meaningful cross-fund comparisons.
Enhancing BDC analysis by offering detailed insights into borrower financials and underlying exposures, mirroring the rigor applied to public equities.
Leveraging AI-powered research assistants to instantly synthesize complex market data, replacing time-consuming manual processes.

The competitive market in the UK and US is intensifying. In 2025, nearly half of private credit loans in the US buyout market were priced, reflecting fierce competition with syndicated loans. In this environment, accurate risk pricing based on standardized loan-level data becomes a key advantage.

The Future of Private Credit: Transparency and Technology

Transparency as a Differentiator: With 81% of institutional investors planning to maintain or increase private credit allocations, success will hinge on providing reliable and interoperable data.
Blurring Lines Between Public and Private Markets: The integration of platforms like eFront and Preqin into Aladdin demonstrates the convergence of technology across public and private markets.
AI as an Essential Tool: The vast amount of unstructured data in private credit necessitates the use of AI to generate actionable insights.

As regulators like the Bank of England and the FCA increase scrutiny of private market valuations and systemic risks, the adoption of institutional-grade infrastructure becomes imperative. BlackRock’s expansion of Aladdin’s capabilities represents a fundamental shift in how private credit is measured, managed, and understood globally.