Why S&P Global (SPGI) Is Buying Private Market Connect

By Amit Chowdhry ● Aug 29, 2022
  • S&P Global (SPGI) announced it is buying Private Market Connect (PMC). This is why.

S&P Global (SPGI) announced it is buying Private Market Connect (PMC), a data solutions provider in private markets.

Why: This acquisition will integrate into the Market Intelligence division and further expand the breadth and depth of its data solutions and offer high-quality data in a timely manner as a single-point service to Limited Partner (LP) and General Partner (GP) customers.

Plus PMC integrates S&P Global’s iLEVEL technology with premiere LP data management services to automate and normalize the collection of fund and underlying portfolio company data from GPs. And this unique combination provides institutional investors with reliable transparency into the lifecycle of their investments. S&P Global Market Intelligence will leverage its AI technology to further enhance the PMC offering.

More background: Prior to the acquisition, S&P Global was a 50% stakeholder in PMC and has acquired the remaining 50% stake from Hamilton Lane (NASDAQ: HLNE), a leading private markets investment management firm. And PMC has one of the largest and most robust private markets databases in the industry, currently tracking over 15,000 unique funds and $1.2 trillion in private markets commitments managed by more than 2,500 GPs.

Going forward: Following the closing, S&P Global will continue to provide data solutions offerings to Hamilton Lane.

KEY QUOTE:

“As a critical solutions provider to private market customers, we are committed to expanding our efforts to serve this market even better. This is an exciting milestone as our combined technology and expertise will further enable our clients to collect, validate, and share portfolio and fund-level data with their critical stakeholders. We look forward to welcoming our new colleagues from PMC and together enhancing our position in the market.”

— Andrew Eisen, Head of Software Solutions at S&P Global Market Intelligence