Index provider and analytics firm MSCI has agreed to invest $190 million for a minority interest in data and analytics company Burgiss Group, an MSCI spokeswoman said.
Burgiss, which serves more than 1,000 firms in 36 countries, provides private asset transparency and performance benchmark tools. MSCI, with a client base of more than 7,500 in more than 85 countries, offers private real estate data, analytics and research, equity and fixed-income indexes, ESG research and ratings and portfolio performance and risk analytics.
The goal of the partnership is to "expand each party's current offerings and develop new tools and solutions for investors and managers of private assets and multiasset class portfolios," the release said.
"Through this strategic relationship, MSCI and Burgiss will drive innovation, development and increased adoption of needed tools and solutions for investors in private assets around the world to help them solve critical investment problems and develop greater understanding of their total portfolios," Henry Fernandez, chairman and CEO of MSCI, said in the release.
Burgiss founder and CEO James Kocis added in the release: "This strategic alliance between Burgiss and MSCI makes perfect sense. For 30 years, Burgiss has focused on building best-of-breed tools for private capital investors. With the rising importance of private markets, our clients have been asking for solutions that span both public and private assets."
Davis Polk & Wardwell LLP acted as legal advisers to MSCI.
