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Financial data group Preqin exploring a sale

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Financial data group Preqin exploring a sale

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Preqin, a British provider of data on private markets, is exploring a sale that could value the company at more than £1bn, according to people familiar with the matter.

Goldman Sachs was advising the business, which it was marketing to interested parties, the people added. Preqin was predominantly interested in doing a deal with a larger rival or so-called strategic buyer and wanted to avoid being sold to a private equity group, they added.

Among the parties which have been looking at buying Preqin were US financial data giant S&P Global and US asset management group BlackRock, some of the people said. Other data companies could jump into the mix of a sale process that is still in the early phase.

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Preqin, Goldman and BlackRock declined to comment. S&P Global said it did not comment on market speculation.

A sale would mark the latest in a series of deals for companies that provide specialised financial information to clients including banks, asset managers and investment groups.

Companies that provide data on opaque but influential corners of the financial services industry have traded at a premium in recent years, seizing on demand among investors for information.

Private equity firms, asset managers and large corporations such as S&P Global have all been active acquirers of these types of businesses, striking large deals for niche data providers and making big profits.

Other data providers to change hands in recent years include distressed debt information business Reorg, which reports on debt financing transactions. S&P Global acquired IHS Markit in 2020 for $44bn.

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Founded more than 20 years ago by UK entrepreneur Mark O’Hare, Preqin was set up to provide data on the private capital industry including tracking the performance of private equity and hedge funds.

The company has been a beneficiary of a two-decade-long boom in private markets during which the industry has grown to more than $14tn in assets.

Preqin claims to have the “biggest and most robust data set on private capital performance on the planet” with 48,000 customers and a research team of 500 staff, according to its website.

The company has grown organically and through acquisitions including the purchase of portfolio monitoring company Colmore in 2021. It has offices in more than a dozen cities including London, New York, Dubai and Beijing, according to its website.

Preqin recorded revenues of £134mn in 2022, according to Companies House filings, up from £92mn the year before.

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The business is chaired by Sir Bradley Fried, who is also chair of Goldman Sachs International, Preqin’s bank.

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Britain blocking use of air bases Trump says would be needed for strikes on Iran, UK media report | CNN

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Britain blocking use of air bases Trump says would be needed for strikes on Iran, UK media report | CNN

British Prime Minister Keir Starmer has blocked a request from US President Donald Trump to allow US forces to use UK air bases during any preemptive attack on Iran, saying it could break international law, according to multiple reports in British media citing government sources.

According to The Times of London, which first reported the split over airbase access, Starmer has denied the use of RAF Fairford in England and Diego Garcia – the British overseas territory in the Indian Ocean – for any strike on Iran.

The two bases have long served as crucial overseas US military staging posts for operations far from home, with Diego Garcia a key airfield for the US’ heavy bomber fleet.

The Times reports Britain is concerned that allowing the US to use the bases “would be a breach of international law, which makes no distinction between a state carrying out the attack and those in support if the latter have ‘knowledge of the circumstances of the internationally wrongful act.’”

The Times cited UK government sources. The BBC, The Guardian and The Telegraph also subsequently published their own reports on the UK blocking access to the bases, citing sources.

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The UK Ministry of Defence declined to comment on what it called operational matters. “There is a political process ongoing between the US and Iran, which the UK supports. Iran must never be able to develop a nuclear weapon, and our priority is security in the region,” a government spokesperson said.

American requests to use UK bases for operational purposes historically have been considered on a case-by-case basis, with precise criteria withheld for security reasons under long-standing agreements.

“All decisions on whether to approve foreign nations’ use of military bases in the UK for operational purposes considers the legal basis and policy rationale for any proposed activity,” Veterans Minister Al Carns wrote in response to questions from independent British member of parliament Jeremy Corbyn, according to a January report from the UK Defence Journal.

Starmer and Trump held a phone call on Tuesday evening, with readouts saying the two discussed peace in the Middle East and Europe.

The following day Trump took to his Truth Social platform to withdraw support for a deal that would see sovereignty over the Chagos Islands, the Indian Ocean chain that is home to the joint US-UK Naval Support Facility Diego Garcia, handed to Mauritius in return for a 99-year lease on the military base.

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CNN has approached the White House for comment.

Britain had split the Chagos Islands from Mauritius before that colony gained independence, something that has been a source of diplomatic friction as well as multiple legal battles with locals who were evicted. In 2019, the International Court of Justice ruled Britain should return the islands “as rapidly as possible,” so that they could be decolonized.

A deal to return them has been making its way through British government channels since, with London arguing a lease compromise would ward off further expensive and likely futile legal battles while maintaining military access in the Indian Ocean.

After initially opposing the UK-Mauritius deal, Trump in early February said it was the “best” Britain could get under the circumstances.

But as the US has been surging forces into the region for a possible attack on Iran, Trump reversed course, saying in a Truth Social post that Starmer is “making a big mistake” in agreeing to the lease deal with Mauritius.

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“Prime Minister Starmer is losing control of this important Island by claims of entities never known of before. In our opinion, they are fictitious in nature,” Trump’s post said.

But just a day earlier, the US State Department issued a statement saying in part that Washington “supports the decision of the United Kingdom to proceed with its agreement with Mauritius.”

Asked about the discrepancy between the Truth Social post and the State Department statement, White House press secretary Karoline Leavitt said the president’s post should be taken as the “policy” of the Trump administration.

In his social media post, Trump directly referenced the two UK airbases, cited by British media, as important in a possible strike on Iran.

“It may be necessary for the United States to use Diego Garcia, and the Airfield located in Fairford, in order to eradicate a potential attack by a highly unstable and dangerous Regime,” Trump wrote.

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Neither Diego Garcia nor Fairford, the key forward operating base for US strategic bombers in Europe, was used in last June’s one-time B-2 bomber strike on Iranian nuclear sites. In that case, the stealth bombers flew a round trip of about 37 hours from their home base in Missouri.

But analysts are expecting that any new US attack on Iran might be a much longer campaign, possibly of weeks or more.

In such a campaign, having the B-2s, as well as B-1 and B-52 bombers, using bases thousands of miles closer to Iran would enable quicker turnarounds to rearm and refuel for more strikes.

While the US may have access to other bases in friendly countries closer to Iran, using them could put its prized heavy bomber fleet in reach of retaliatory Iranian missile strikes.

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U.S. figure skater Alysa Liu said she didn’t care if she medaled. She won gold

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U.S. figure skater Alysa Liu said she didn’t care if she medaled. She won gold

Team USA’s Alysa Liu celebrates after winning gold in the women’s event on Thursday.

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MILAN — Alysa Liu has won Olympic figure skating gold, the first U.S. woman to do so in over two decades.

It’s an ironic outcome for the 20-year-old, who said earlier this week that she wasn’t motivated by a medal.

“I’m OK if I do a fail program. I’m totally OK if I do a great program. No matter what the outcome is, it’s still my story,” Liu said after finishing Tuesday night’s short program in third place.

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Liu, 20, soared to new heights in Thursday’s free skate, dazzling the crowd with an absolutely joyful skate to Donna Summer’s “MacArthur Park Suite” in a shimmering gold dress.

Alysa Liu (C) celebrates next to silver medalist Kaori Sakamoto (L) and bronze medalist Ami Nakai (R), both of Japan.

Alysa Liu (C) celebrates next to silver medalist Kaori Sakamoto (L) and bronze medalist Ami Nakai (R), both of Japan.

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She and her signature raccoon-striped ponytail soared, exuding a carefree confidence and getting the crowd onto its feet. Her easygoing demeanor and look of genuine enjoyment have been her hallmarks since she returned to the sport in 2024 — two years after retiring at age 16 immediately following the Beijing Olympics, where she came in sixth.

Liu’s performance on Thursday shot her straight to the top of the leaderboard with two skaters behind her, guaranteeing her spot on the podium.

She stayed there through the end of the night. Japan’s Kaori Sakamoto, the penultimate skater, ended up with a silver medal, while the last skater of the night, her compatriot Ami Nakai, claimed bronze.

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It was a literal passing of the torch: Sakamoto, who won bronze in Beijing, is retiring after these Olympics; Nakai is just 17 and in her debut senior season.

USA's Amber Glenn competes on Thursday.

USA’s Amber Glenn competes on Thursday. She finished fifth overall.

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The Milano Ice Skating Arena erupted in cheers as reality sunk in. An exuberant Liu exchanged long hugs with her coaches and teammate Amber Glenn, who had a triumphant night of her own despite finishing off the podium in fifth place.

It was a redemptive skate for Glenn, who came into the night in 13th place after one costly mistake at the end of her first routine Tuesday. The free skate, her second chance, went much more smoothly — she nailed another triple axel and landed all of her jumps, despite putting a hand down to steady herself at one point. Glenn, who later told NBC she had been thinking of her six-year-old self, moved into first place and stayed there until the final group of the night.

The other member of the “Blade Angels,” Isabeau Levito, finished the night in 12th place.

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This is a developing story and will be updated.

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Iran and the US lean into gunboat diplomacy as nuclear talks hang in balance

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Iran and the US lean into gunboat diplomacy as nuclear talks hang in balance

DUBAI, United Arab Emirates (AP) — Iran and the United States leaned into gunboat diplomacy Thursday as nuclear talks between the nations hung in the balance, with Tehran holding drills with Russia and the Americans bringing another aircraft carrier closer to the Mideast.

The Iranian drill and the arrival of the USS Gerald R. Ford aircraft carrier near the mouth of the Mediterranean Sea underscore the tensions between the nations. Iran earlier this week also launched a drill that involved live-fire in the Strait of Hormuz, the narrow opening of the Persian Gulf through which a fifth of the world’s traded oil passes.

The movements of additional American warships and airplanes don’t guarantee a U.S. strike on Iran — but it does give President Donald Trump the ability to carry out one should he choose to do so. He’s so far held off on striking Iran after setting red lines over the killing of peaceful protesters and Tehran holding mass executions, while reengaging Tehran in nuclear talks earlier disrupted by the Iran-Israel war in June.

“Should Iran decide not to make a Deal, it may be necessary for the United States to use Diego Garcia, and the Airfield located in Fairford, in order to eradicate a potential attack by a highly unstable and dangerous Regime,” Trump wrote on his Truth Social website, seeking to pressure the United Kingdom over its plans to settle the future of the Chagos Islands with Mauritius.

Meanwhile, Iran struggles with unrest at home following its crackdown on protests, with mourners now holding ceremonies honoring their dead 40 days after their killing by security forces. Some of the gatherings have included anti-government cries, despite threats from authorities.

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Iran holds drill with Russia

The drill Thursday saw Iranian forces and Russian sailors conduct operations in the Gulf of Oman and the Indian Ocean, Iran’s state-run IRNA news agency reported. The drill will be aimed at “upgrading operational coordination as well as exchange of military experiences,” IRNA added.

China had joined the “Security Belt” drill in previous years, but there was no acknowledgment it participated in this round. In recent days, a vessel that appeared to be a Steregushchiy-class Russian corvette had been seen at a military port in the Iranian city of Bandar Abbas.

Iran also issued a rocket-fire warning to pilots in the region, suggesting they planned to launch anti-ship missiles in the exercise.

Meanwhile, tracking data showed the Ford off the coast of Morocco in the Atlantic Ocean midday Wednesday, meaning the carrier could transit through Gibraltar and potentially station in the eastern Mediterranean with its supporting guided-missile destroyers.

Having the carrier there could allow American forces to have extra aircraft and anti-missile power to potentially protect Israel and Jordan should a conflict break out with Iran. The U.S. similarly placed warships there during the Israel-Hamas war in the Gaza Strip to protect against Iranian fire.

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Anti-government chants made at mourning ceremonies

Mourning ceremonies for those killed by security forces in the protests last month also have increased. Iranians traditionally mark the death of a loved one 40 days after the loss. Both witnesses and social media videos showed memorials taking place at Tehran’s massive Behesht-e Zahra cemetery. Some memorials included people chanting against Iran’s theocracy while singing nationalistic songs.

The demonstrations began Dec. 28 at Tehran’s historic Grand Bazaar, initially over the collapse of Iran’s currency, the rial, then spread across the country. Tensions exploded on Jan. 8, with demonstrations called for by Iran’s exiled crown prince, Reza Pahlavi.

Iran’s government has offered only one death toll for the violence, with 3,117 people killed. The U.S.-based Human Rights Activists News Agency, which has been accurate in previous rounds of unrest in Iran, puts the death toll at over 7,000 killed, with many more feared dead.

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Associated Press writer Nasser Karimi in Tehran, Iran, contributed to this report.

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