LSEG Eyes a $3.5 Billion Bet on Private Credit Data

Your daily brief on leadership and business

London Stock Exchange Group has confirmed that it is in talks to acquire Octus, a credit intelligence and data provider owned by private equity firm Permira, in a deal valued at approximately USD3.5 billion. The confirmation on October 13, 2026, came after Reuters reported the discussions earlier that day, citing two people familiar with the matter. LSEG stressed that no final agreement has been reached and a deal is not guaranteed.

The market's first reaction was not exactly a standing ovation. LSEG shares fell 5.8% to 8,256.00 pence on Tuesday afternoon in London, a reminder that investors often greet big data purchases with the enthusiasm of someone receiving an unexpected invoice.

Why credit data matters

LSEG describes Octus as a provider of credit intelligence, data and workflow tools for buy-side firms, investment banks, law firms and advisory firms. Its proprietary data covers the full credit lifecycle, with a leading position in illiquid and private credit, a segment LSEG calls high-growth. Octus also has a track record of double-digit revenue growth built on a subscription model with high customer retention.

For LSEG, which has been reshaping itself from an exchange operator into a broad market data and indices business, the fit is clear. The group says Octus's coverage is highly complementary to its existing fixed income data and analytics and to its private markets solutions. It also expects the acquisition to be immediately accretive to the revenue growth of its Data & Analytics division and of the group as a whole.

Not done until it is done

The statement was issued in response to press speculation, and both LSEG and Permira had declined to comment when the Reuters report first appeared. Until a final agreement is signed, the talks remain talks. Still, the direction of travel is telling: in a world where private credit keeps growing, the companies that own the most reliable data about it may hold one of the more valuable seats at the table.