Bloomberg is acquiring Canoe Intelligence, a private market data automation specialist, in what the company describes as one of its most significant deals. The move aims to expand Bloomberg's offerings in the booming alternatives data market, valued between $15 trillion and $22 trillion according to various estimates. Canoe, launched in 2018, uses machine learning to automate data exchanges between general partners and investors. The acquisition will enable Bloomberg to provide richer private data offerings and create new products, bringing greater transparency to often opaque private markets. The deal follows Bloomberg's integration of Canoe into its PORT Enterprise order management system earlier this year. Bloomberg has been expanding its private-asset capabilities, introducing a private direct lending data service covering 15,000 active loans worth approximately $1 trillion in April. Industry experts note mainstream data providers are increasingly acquiring private-market specialists rather than building capabilities internally, citing the complexity of sourcing scattered private markets data.

/PRNewswire/ -- Bloomberg today announced it has entered into a definitive agreement to acquire Canoe Intelligence ("Canoe"), a leading AI-powered data...

Bloomberg to buy private markets data platform Canoe Intelligence. The deal seeks to create unified data and analytics tools for private markets investors, including wealth managers and family offices. Elaine Misonzhnik, Senior Editor, Investments, Wealth Management July 29, 2026 Bloomberg has entered into a definitive agreement to acquire Canoe Intelligence, an artificial intelligence-powered data management and intelligence platform focused on private markets data collection and delivery, for an undisclosed amount. The acquisition is part of Bloomberg's long-term strategy to deliver data and analytics tools for investors across public and private markets. According to the firms, the acquisition will allow Bloomberg to provide a fully integrated total portfolio view, with an automated post-investment workflow for exposure and risk analysis, cash management and underlying holdings look-through, underpinned by an investment book of record across public and private assets. It will also give the firm enhanced pre-investment intelligence, including fund screening, benchmarking and comparative analysis, extended into private markets and a converged data infrastructure, with fund coverage and data normalized with consistent fund identifiers such as the Financial Instrument Global Identifier. It will also feature AI-powered capabilities, integrated into ASKB, Bloomberg's agentic AI conversational interface. Today, Bloomberg delivers data on 50,000 private funds and 16,000 private direct loans, in addition to data on 3 million private companies. Canoe connects many GPs and LPs, attempting to streamline post-investment reporting. It processes approximately 1.5 million documents per month across more than 44,000 funds for roughly 500 institutional clients, including wealth managers and family offices, representing over $11 trillion in assets under service. In 2025, Canoe entered into a partnership with fintech platform Envestnet to automate the delivery of wealth manager data, including notices and statements on alternative investments, from Canoe's platform to Envestnet's Tamarac system. The partnership streamlined operational workflows for the firms' mutual clients. The same year, Canoe expanded its strategic partnership focused on private market intelligence with Prime Buchholz, linking Canoe's automated data collection and AI extraction with Prime Buchholz's data validation and analytics. In addition, Canoe launched Canoe Labs, an incubator for investment professionals developing alts workflows with AI-powered document summaries and real-time language translation capabilities. Earlier this year, Bloomberg launched a certified integration with Canoe that connected permissioned private fund data directly to Bloomberg PORT Enterprise. The acquisition enabled the company to integrate Canoe's private market capabilities with Bloomberg's existing products to create new insights across the full investment cycle for both public and private markets. According to Bloomberg CEO Vlad Kliatchko, the company is seeking to bring the same data transparency it has delivered to the public markets to the private markets side as more investors seek timely insights on private assets. "Canoe gives us access to the data, technology, and community to respond to that shift, and positions Bloomberg to deliver an experience that will define the next era of investing: connecting data, analytics, and tools to support the full investment lifecycle across both public and private markets," Kliatchko said in a statement. The move follows a growing trend of mergers, acquisitions and partnerships among data intelligence firms, asset management firms and other financial services players seeking to bring greater transparency to private market investments. Such deals have included Morningstar and Pitchbook, BlackRock acquiring London-based research firm Preqin, as well as FTSE Russell partnering with alternative asset manager StepStone Group and investment research firm YCharts adding data from alternative asset manager Hamilton Lane. "When we partnered with Bloomberg earlier this year on our PORT integration, we saw firsthand what becomes possible when Canoe's data automation meets Bloomberg's portfolio infrastructure," Canoe Intelligence CEO Jason Eiswerth said in a statement. "Joining Bloomberg lets us build on that foundation at scale, with more resources, more reach, and more data behind Canoe, giving investors the clarity to analyze their complete portfolios and the confidence to act on what they see. This is how the world invests in alternatives going forward." Senior Editor, Investments, Wealth Management Elaine Misonzhnik is Senior Editor, Investments at Wealth Management, focusing on alternative investments. She has over 20 years of experience as a business reporter and editor, including for Retail Traffic and National Real Estate Investor magazines. Prior to her current role, she was the Executive Editor at Wealth Management Real Estate, which covered the intersection of commercial real estate and institutional investment.