The transaction services team based in the Bristol office of accountancy group Smith & Williamson has advised on a transaction that will give investors in private markets more access to valuable data.
The sale of tech business Colmore to Preqin will allow both companies to serve their clients across the entire private market investment lifecycle — from fundraising to due diligence and portfolio monitoring. 
Birmingham-headquartered Colmore is a leading private markets technology, services and administration business while Preqin, based in London, is a leading provider of alternative assets data.
Marcus Graham, pictured, and Claire Eggels, of Smith & Williamson’s transaction services team, provided vendor due diligence services to Colmore on the transaction, which will bring together its administration, monitoring and fee validation services and Preqin’s global private markets data.
The deal, which solidifies Preqin’s and Colmore’s position as leaders in the private markets, comes at a time when a growing number of institutional investors are looking to the private markets and demanding cutting-edge technology, data and integrated accounting and administration services.
Preqin supports more than 110,000 professionals globally in raising capital, sourcing deals and investments and understanding performance by providing them with the most comprehensive alternative assets data and insights.
Colmore’s key solutions include portfolio monitoring, analytics, fee tracking and validation, and fund administration services for its LP and allocator clients.
The rapidly growing business monitors more than 3,000 private market funds and more than 40,000 holdings.
Preqin now plans to boost its market-leading benchmarks in partnership with Colmore, giving clients the ability to compare their performance against the industry’s most accurate, timely and transparent benchmarks.
Colmore’s key services include portfolio monitoring, analytics, fee tracking and validation, and fund administration.
Marcus Graham, who heads Smith & Williamson’s transaction services team in Bristol, said: “Smith & Williamson continues to grow its reputation as a leading provider of financial due diligence to the private equity, banking and corporate communities.
“We are delighted to have assisted on this transaction – it was another example of a deal where our vendor due diligence analysis has helped to streamline the diligence process.”
Colmore chief financial officer Harry Pepper said: “Smith & Williamson’s transaction services team produced insightful analysis that displayed an impressive grasp of Colmore’s business model and communicated key points clearly. Their work was a valuable part of a successful deal process.”
Financial terms of the acquisition, which was backed by Barings Global Private Finance, have not disclosed.
Smith & Williamson is part of leading wealth management and professional services firm Tilney Smith & Williamson.
