Suffolk couple set to become billionaires as data company sold to US firm BlackRock

A couple from Saxmundham have secured a fortune after selling their investment data company to an American multinational.

Investment giant BlackRock has snapped up London-based Preqin - owned mainly by 65-year-olds Mark and Lindy O'Hare - in a £2.55bn deal.

Preqin - which employs around 1,500 people - was founded in 2003 by Mark O'Hare.

The couple - who own an organic nut farm at Thorington - founded an outdoor theatre there along with theatre creator Silas Rayner which opened during the pandemic.

(Image: Valhalla Ventures)

The theatre has gone on to win at host of awards and plaudits since launching.

Mark will join BlackRock as vice-chairman after the deal is sealed.

“BlackRock is known for excellence in both investment management and financial technology, and together we can accelerate our efforts to deliver better private markets data and analytics to all of our clients at scale,” he said.

“I look forward to joining BlackRock and continuing to play a role in the continued growth and success of Preqin and our customers.”

It is understood the couple will share a payout of £2.04bn from their 80% share, while Preqin staff will share £510m from the sale deal.

The O'Hares are behind Thorington Theatre, a 350-person outdoor amphitheatre, showcasing world class shows and musicals in Saxmundham and surrounded by pine trees.

(Image: Charlotte Bond)

The theatre - made from sustainably coppiced timber - was built mainly through the pandemic although work started just before the outbreak. It opened in 2021 with a performance of  A Midsummer Night’s Dream when it had to impose social distancing.

In 2023, it scooped the New Tourism Business of the Year award at the East of England Tourism Awards and at the national VisitEngland Awards for Excellance and this year was named among the best in the UK by RadioTimes magazine.

(Image: Charlotte Bond)

“The theatre is built here on our farm, as there was this depression left in the side of a small hill. Legend has it that it was from a doodlebug bomb that was meant for Lowestoft during the Second World War," said Lindy.

Back in 2022, Lindy was overseeing bookings while husband Mark dealt with the financial side and daughter Josephine took care of marketing and social media.

“Originally, we thought it would just be used by local theatre and amateur dramatic groups, but it’s really taken on a life of its own. So far, it’s been a wonderful experience,” said Lindy.

Lindy and dog Ding (centre) with husband Mark (right), and maintenance man George at Thorington Theatre (Image: Charlotte Bond)

The Preqin sale transaction is expected to close before the end of 2024, subject to regulatory approval and various conditions.

Preqin is owned by its management and employees together with Valhalla Ventures, founder Mark O'Hare's family holding company.