Bloomberg Bets on Private Markets with Canoe Intelligence Acquisition, Adding AI Data Platform Serving $11 Trillion in Assets
Bloomberg Bets on Private Markets with Canoe Intelligence Acquisition, Adding AI Data Platform Serving $11 Trillion in Assets #
Bloomberg has agreed to acquire Canoe Intelligence, an AI-powered private markets data management platform. The financial information company said the deal is central to its long-term strategy to serve investors across public and private asset classes. Financial terms were not disclosed.
Canoe processes around 1.5 million documents each month across more than 44,000 private funds and serves more than 500 institutional clients, including wealth managers and family offices, that collectively hold over $11 trillion in assets under service. The platform automates the extraction and delivery of alternative investment data, reducing the manual reporting work that limited partners and allocators have historically handled themselves.
The acquisition follows an existing commercial relationship between the two companies. Bloomberg had previously integrated Canoe’s private-fund data into its Port Enterprise portfolio and risk analytics platform to support cross-asset analysis. Bloomberg currently carries data on 50,000 private funds, 16,000 private direct loans, and 3 million private companies through its terminal.
Bloomberg chief executive Vlad Kliatchko said private markets are poised for the same kind of structured, timely data access that transformed public markets more than four decades ago, and described Canoe as central to that effort. Canoe chief executive Jason Eiswerth said the combination would allow the company to extend its platform with greater resources and broader data coverage.
According to the companies’ announcement, the combined offering is expected to provide four capabilities: a total portfolio view spanning public and private assets; pre-investment intelligence including fund screening, benchmarking, and comparative analysis; broader fund coverage with more timely performance reporting; and AI-powered analytics across the investment lifecycle.
Canoe was originally incubated by principals at 10East and 22C Capital and attracted investment from Blackstone Innovations Investments, Carlyle AlpInvest, Goldman Sachs Alternatives’ growth equity unit, Hamilton Lane, and Nasdaq Ventures. Jefferies LLC served as exclusive financial adviser to Canoe, with Cooley LLP acting as legal adviser.
The deal comes as asset managers push for unified views of increasingly complex portfolios that span both public and private holdings. Private markets have expanded significantly in recent years, increasing demand for standardized, automated data pipelines of the kind that public equity and fixed income markets have long relied on.
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