Bloomberg LP has announced its agreement to acquire Canoe Intelligence, a company specializing in automating data collection for the private markets. This strategic move signals Bloomberg's intent to significantly expand its presence and offerings within the private markets sector.

Canoe Intelligence provides a crucial service for institutional investors, wealth managers, and family offices by streamlining the often complex and manual process of gathering and organizing data from private equity, venture capital, and other alternative investments. The acquisition is expected to integrate Canoe's technology and expertise into Bloomberg's existing financial data and analytics ecosystem.

This acquisition is poised to enhance Bloomberg's capabilities in serving clients who require robust data solutions for private markets, a rapidly growing area of investment. The deal's terms were not disclosed, but it underscores Bloomberg's commitment to providing comprehensive data across all asset classes.