MSCI Inc. has completed its acquisition of New Jersey-based private assets data provider, The Burgiss Group, LLC or Burgiss, for $697 million in cash.
With a view to “improving transparency in global private asset investing”, MSCI will have spent $913 million since its initial investment in January 2020 to acquire the company headquartered in New Jersey.
Serving clients across the USA, Europe, Asia Pacific and South Africa, Burgiss provides data, analytics and technological solutions for investors in private real estate – representing $15 trillion in cumulative investments across asset classes.
MSCI said this acquisition would provide them with data and expertise in all private assets, enabling investors to evaluate information, measure and compare performance and risks, understand exposures and conduct analytics across private and public asset classes.
This acquisition will also expand MSCI’s suite of multi-asset class technology solutions, with the Burgiss Caissa Platform designed for institutional investors to view performance and risk drivers in both public and private investments in total portfolios.
Henry Fernandez, chairman and CEO, MSCI, said: “By combining Burgiss’ 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 to help investors manage their complex portfolios.”
Jim Kocis, founder and CEO, Burgiss, commented: “Our combined capabilities are poised to create more powerful solutions that can help better navigate and drive innovation across private assets.”
The transaction is expected to close in Q4 2023, subject to regulatory approvals and closing conditions.
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