Bloomberg to acquire private markets data firm Canoe Intelligence

Investing.com -- Bloomberg LP agreed to acquire Canoe Intelligence, a platform that automates private markets data collection for institutional investors, wealth managers and family offices. Terms of the transaction were not disclosed.

The acquisition is part of Bloomberg's push to improve institutional investors' insight into private markets. Canoe processes over 1.5 million documents a month across more than 44,000 funds.

The two companies had partnered earlier this year to bring some of Canoe's data onto Bloomberg's platform. Bloomberg's platform already has data on more than 3 million private companies, 50,000 private funds and 16,000 private direct loans.

Canoe's past backers included Blackstone Inc., Carlyle Group Inc. and Goldman Sachs Group Inc.. Jefferies Financial Group Inc. served as financial adviser to Canoe, while Cooley LLP provided legal advice to the firm.

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