MSCI Bets on Private Market Data by Acquiring Rest of Burgiss

Posted on 08/14/2023

New York-based MSCI Inc. entered into a definitive agreement to acquire the remaining 66% of The Burgiss Group, LLC for US$ 697 million in cash. Burgiss is a Hoboken, New Jersey-based provider of data, analytics, and technology solutions for investors in private assets. Since its initial investment in January 2020, MSCI will have invested an aggregate of US$ 913 million to acquire all of Burgiss.

Burgiss offers private asset data, analytics, and software applications, including performance data that dates back to 1978.

In September 2021, MSCI acquired Real Capital Analytics.

Henry Fernandez, Chairman and Chief Executive Officer, MSCI, said in a press release, “The acquisition of Burgiss marks a transformational milestone for MSCI and reinforces our commitment to driving innovation and transparency across the global private asset investment landscape. By combining Burgiss’ comprehensive private asset data and analytics with MSCI’s expertise in research, analytics, data and technology for investments across public asset classes, we are aiming to redefine total portfolio investing and build solutions that can help investors manage their complex portfolios and make better informed decisions.

Burgiss is expected to generate over US$ 90 million of revenue in 2023 with an EBITDA margin and operating income margin in the mid-teens. The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals and customary closing conditions.

Davis Polk & Wardwell LLP acted as legal adviser to MSCI on the transaction.

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