Key Takeaways
- • S&P Global acquires With Intelligence from Motive Partners for $1.8 billion, expanding its private markets data capabilities and positioning itself as a comprehensive provider serving ~3,000 clients across private equity, private credit, hedge funds, real estate, infrastructure, and family offices.
- • With Intelligence contributed $130 million in additional revenue in 2025 with organic annual contract value growth in the high teens, demonstrating strong market demand for private markets intelligence and data services.
- • EU private equity and venture capital firms increased investment in local AI companies by 83.3% year-over-year, signaling accelerating institutional capital deployment toward European AI-focused companies.
- • US offshore wind sector faces mixed momentum: while the pipeline reaches 30.7 GW—meeting Biden's 2030 target—European developers operate under financial constraints and supply chain pressures, while private equity firms wade deeper into US offshore wind investments despite challenging project economics.
- • Global Infrastructure Management is acquiring utility interests in two major US offshore wind projects (132-MW South Fork Wind and 700-MW Revolution Wind), demonstrating institutional appetite for later-stage wind assets despite headwinds from regulatory policy shifts.
Summary
S&P Global's $1.8 billion acquisition of With Intelligence from Motive Partners represents a strategic consolidation in the private markets intelligence sector, significantly expanding the data provider's coverage and capabilities across alternative investments. The transaction combines With Intelligence's proprietary data, benchmarks, and workflow solutions with S&P Global's established expertise in ratings, analytics, and market intelligence. With Intelligence serves approximately 3,000 customers—including Limited Partners, General Partners, advisors, and intermediaries across private equity, private credit, hedge funds, real estate, infrastructure, and family offices. The deal is expected to generate $130 million in additional revenue in 2025, with organic annual contract value growth running in the high teens, demonstrating robust demand for comprehensive private markets data as institutional capital increasingly allocates to alternative assets.
The acquisition positions S&P Global to capitalize on anticipated growth in private markets, which are projected to approach nearly $40 trillion by 2030. By creating one of the most comprehensive end-to-end data offerings for alternatives participants, the combined entity enhances value across the full alternatives investing lifecycle—from initial screening through portfolio monitoring and exit analytics. This strategic move underscores the growing institutional need for transparency, benchmarking, and workflow connectivity in an increasingly complex private markets landscape.
European private equity and venture capital investment in local AI companies surged 83.3% year-over-year to $6.8 billion, signaling accelerating institutional capital deployment toward artificial intelligence-focused companies within EU member states. This surge reflects broader institutional recognition of AI's strategic importance and willingness among European alternative investors to commit significant capital to local technology development and innovation.
The US and European offshore wind sectors present divergent dynamics. While the US offshore wind pipeline reached 30.7 GW—sufficient to meet President Biden's 30 GW by 2030 target—European developers face financial constraints and supply chain pressures that are tempering development velocity. Conversely, private equity firms continue to demonstrate confidence in US offshore wind, with Global Infrastructure Management acquiring a utility's interests in the 132-MW South Fork Wind project and the 700-MW Revolution Wind project. These acquisitions reflect institutional appetite for later-stage wind assets despite acknowledged challenging project economics, suggesting that experienced infrastructure investors perceive value opportunities as the sector matures and regulatory frameworks stabilize.
The acquisition positions S&P Global to capitalize on anticipated growth in private markets, which are projected to approach nearly $40 trillion by 2030. By creating one of the most comprehensive end-to-end data offerings for alternatives participants, the combined entity enhances value across the full alternatives investing lifecycle—from initial screening through portfolio monitoring and exit analytics. This strategic move underscores the growing institutional need for transparency, benchmarking, and workflow connectivity in an increasingly complex private markets landscape.
European private equity and venture capital investment in local AI companies surged 83.3% year-over-year to $6.8 billion, signaling accelerating institutional capital deployment toward artificial intelligence-focused companies within EU member states. This surge reflects broader institutional recognition of AI's strategic importance and willingness among European alternative investors to commit significant capital to local technology development and innovation.
The US and European offshore wind sectors present divergent dynamics. While the US offshore wind pipeline reached 30.7 GW—sufficient to meet President Biden's 30 GW by 2030 target—European developers face financial constraints and supply chain pressures that are tempering development velocity. Conversely, private equity firms continue to demonstrate confidence in US offshore wind, with Global Infrastructure Management acquiring a utility's interests in the 132-MW South Fork Wind project and the 700-MW Revolution Wind project. These acquisitions reflect institutional appetite for later-stage wind assets despite acknowledged challenging project economics, suggesting that experienced infrastructure investors perceive value opportunities as the sector matures and regulatory frameworks stabilize.
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