MSCI Inc. (MSCI) a mission-critical decision support tools provider, Monday said that it has entered into a definitive agreement to buy the remaining 66 percent of Burgiss Group, LLC, a market data provider for $697 million.
The transaction is an all-cash transaction and since its earlier investment in 2020, MSCI will have invested a total of $913 million to acquire Burgiss completely.
Burgiss dataset covers over 13,000 private asset funds around the world, amounting to $15 trillion in cumulative investments across various sectors like private equity, private real estate, private debt, infrastructure and natural resources in 195 countries.
This complements MSCI's position in private real estate, as the company currently offers private real estate data and analytics covering over one million properties representing more than $45 trillion in transactions and portfolio assets in over 170 countries.
"This acquisition will also expand MSCI's robust suite of multi-asset class technology solutions with the industry leading Burgiss Caissa Platform, developed exclusively for institutional investors and providing a comprehensive view of the drivers of performance and risk in both public and private investments in total portfolios," the company said in a statement.
It is also expecting to help investors to compare performance and risk across both private and public asset classes hoping to facilitate efficient asset allocations.
Burgiss serves nearly 1,000 clients, limited partners, general partners, and financial intermediaries in 40 countries.
On Friday, shares of MSCI closed at $548.99 up 0.39% on the New York Stock Exchange.
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