S&P Global has agreed to acquire With Intelligence for $1.8 billion, enhancing its position in private markets intelligence.

Information on the Target

S&P Global has reached an agreement to acquire With Intelligence from a group led by Motive Partners for $1.8 billion. This acquisition will position S&P Global as a prominent provider of private markets intelligence by integrating With Intelligence’s data, benchmarks, and analytics into S&P Global’s comprehensive suite of ratings, indices, and workflow solutions.

Founded in 1998 by Charlie Kerr, With Intelligence caters to nearly 3,000 clients, including limited partners (LPs), general partners (GPs), and advisors across various sectors such as private equity, private credit, hedge funds, real estate, and infrastructure. The firm anticipates generating approximately $130 million in revenue in 2025, with annual contract value growth projected in the high teens.

Industry Overview

The private markets industry is one of the most rapidly evolving sectors within global finance, characterized by increasing investor interest and a wider array of investment opportunities. In recent y