S&P Global has finalized its acquisition of With Intelligence for $1.8 billion, marking one of the company’s most significant moves to broaden its presence in private markets data and analytics. The transaction, first announced in October, brings together S&P Global’s extensive information infrastructure with With Intelligence’s proprietary data, workflow tools, and research focused on alternative investments.
The acquisition adds substantial depth to S&P Global’s private markets coverage at a time when institutional investors, asset managers, and financial firms are seeking more insight into private capital flows, fund performance, and alternative asset strategies. With Intelligence specializes in intelligence across hedge funds, private equity, private credit, and other non-public market segments, providing data solutions and workflow products utilized across the investment lifecycle.
S&P Global stated that integrating with Intelligence’s platform will enhance its ability to serve customers and make decisions across complex, expanding private markets. The company noted that the deal aligns with its long-term plans to strengthen its role as an essential provider of benchmarks, data, analytics, and decision-support tools for institutions navigating capital markets and cross-asset environments.
The acquisition also reflects an ongoing trend of consolidation within financial information services as companies seek to expand product breadth, deliver more integrated workflows, and meet growing demand for alternative data. S&P Global said the purchase supports its strategy to help customers as they evaluate investments, manage risk, and interpret rapidly changing market dynamics influenced by technology, regulation, and macroeconomic conditions.
With Intelligence now joins S&P Global’s suite of offerings spanning indices, credit ratings, research, analytics, benchmarks, and data solutions for both public and private markets. The company emphasized that combining the organizations will unlock new market opportunities while creating one of the largest private market intelligence platforms globally.
S&P Global continues to invest in products that support capital formation, credit and equity analysis, commodities research, energy market intelligence, and evolving sectors, including artificial intelligence and mobility. Leadership noted that expanding private markets capabilities is a central part of its long-term growth strategy as institutional interest in alternatives continues.
KEY QUOTES:
“With Intelligence’s deep expertise in alternative investments complements our existing capabilities, enabling S&P Global to help our customers make valuable decisions at every stage of the investment lifecycle. The completion of this acquisition represents a significant step forward in our strategy to provide essential intelligence for our customers as they navigate complexity in the rapidly expanding private markets landscape.”
Martina Cheung, President and CEO of S&P Global
