S&P Global has announced the acquisition of With Intelligence, a private market data provider, for $1.8 billion.
Established in 1998, With Intelligence delivers proprietary, actionable insights sourced directly from limited partners and general partners. The company, which received a majority investment from Motive Partners in 2023, currently serves around 3,000 clients worldwide, with revenue projected to reach $130 million by 2025.
This acquisition significantly enhances S&P Global’s data coverage and capabilities within private markets, providing greater value to general partners, limited partners, intermediaries, and advisors alike. With alternative assets anticipated to reach nearly $40 trillion by the end of the decade, S&P Global believes this move will accelerate its commitment to fostering innovation and transparency throughout the private markets ecosystem by offering comprehensive data, intelligence, and connectivity solutions.
Martina Cheung, CEO of S&P Global, stated, “Private markets represent one of the most dynamic and rapidly growing segments of global finance. Delivering innovative and differentiated data, benchmarks, and workflow solutions in this area is a core strategic priority for S&P Global.” She further emphasized that the integration of With Intelligence will extend S&P Global’s trusted legacy into private markets, ensuring the same level of rigor, data quality, and analytical depth that underpins the organization’s leadership.