NEW YORK, 18 October 2025 – S&P Global is set to acquire London-based private markets data and analytics firm With Intelligence for US$1.8 billion from Motive Partners.
This will strengthen S&P Global’s value proposition for Limited Partners (LPs), General Partners (GPs), Intermediaries, and Advisors. It will also deepen the company’s data coverage and competencies in private markets.
The acquisition will create one of the most comprehensive private markets intelligence offerings by bringing together With Intelligence’s proprietary data, benchmarks, and workflow tools with S&P Global’s expertise and reputation.
With Intelligence’s data assets include:
- 30,000 investors including private equity, private credit, infrastructure, hedge funds and family offices
- 30,000 managers
- 70,000 funds focusing on the largest funds globally
- 350,000 deals covered
“Private markets is one of the most dynamic and fast-growing areas of global finance and providing innovative and differentiated data, benchmarks and workflow solutions in this space is a key strategic priority for S&P Global,” said Martina Cheung, President and CEO of S&P Global.
Saugata Saha, President of S&P Global Market Intelligence and Chief Enterprise Data Officer of S&P Global commented, “From our private company data on S&P Capital IQ Pro, to differentiated intelligence across private equity and private credit and integrated solutions like iLEVEL, Valuations and WSO — With Intelligence’s capabilities complement our portfolio and enhance our ability to deliver the clarity and confidence needed in today’s increasingly complex private markets.”
Established in 1998 by Charlie Kerr, With Intelligence delivers data and insights across alternative assets, private markets, and public funds. It serves 3,000 global customers in the alternative asset management industry. The firm is projected to hit US$130 million in revenue this year.
“Joining S&P Global is a key milestone in our growth and one we are very excited about as it allows us to accelerate our strategy on a global scale by combining our proprietary datasets, benchmarks and relationships across GPs and LPs with S&P Global’s legacy, trust and reach,” said Charlie Kerr, Founder and CEO of With Intelligence.
The acquisition is expected to be completed in 2025 or early 2026, subject to closing conditions and regulatory approvals.
Source: S&P Global
