The alternatives assets data juggernaut is opening an office in Sydney, as it looks to expand its local client base and build its research coverage.
Preqin Pro is a software subscription platform that tracks data (such as fundraising, deals and exits) for six main alternative asset classes: private equity, real estate, infrastructure, private debt, hedge funds, natural resources.
It already has about 100 clients in Australia. Most recognisably, it tracks the activity in Australia's $30 billion private equity and venture capital industry for the annual report published by Australian Investment Council (formerly Australian Private Equity and Venture Capital Association or AVCAL). It does not rate funds.
Preqin's Sydney office is expected to commence in early February.
The company has relocated Reuben Collins from Singapore to lead the sales of its platform to Australian superannuation funds, asset consultants, large law firms, alternative managers and distribution partners.
In addition to Collins, the Sydney office will look to hire a key account manager and two analysts.
The analysts will be tasked with building on Preqin's data in the region and will report to Ee Fai Kam, who heads Preqin's Asian operations.
Collins reports to Ajay Narang, Preqin's Hong Kong-based head of APAC sales.
"We are pleased to announce the forthcoming launch of our Sydney office," Narang said in an emailed statement.
"Having a presence on the ground in Australia will put us closer to our clients and allow us to accelerate expansion in one of our fastest growing markets. It is an exciting time for alternatives in Australia, and we are looking forward to supporting operators as they continue to drive private capital allocation and investment."