MSCI, the US financial services giant, has entered into a definitive agreement for the acquisition of the remaining 66% of Burgiss per $697 million in cash. Burgiss is a Hoboken, New Jersey-based data, analytics and technology solutions provider to private asset investors. Since its initial investment in January 2020, MSCI will have invested a total of $913 million to acquire all of Burgiss.
Il Burgiss dataset – developed in over 35 years of activity – covers over 13,000 private asset funds worldwide, equating to $15 trillion in cumulative investments in private equity, private real estate, private debt, infrastructure and natural resources in 195 countries. Burgiss serves approximately 1,000 customers in 40 countries and has more than 650 employees in the United States, Europe, Asia Pacific and South Africa.
“The acquisition of Burgiss marks a transformational milestone for MSCI and reinforces our commitment to drive innovation and transparency in the global private investment landscape – Henry Fernandez, president and CEO from MSCI – Combining Burgiss’ comprehensive private asset data and analysis with MSCI’s expertise in investment research, analytics, data and technology across all public asset classes, we aim to redefine total portfolio investing and create solutions that can help investors manage their complex portfolios and improve their decisions”.
MSCI expects to fund the purchase consideration from existing liquidity sources and expects that Burgiss to Generate More than $90 Million in Revenue in 2023 on Mid-Teens EBITDA and Operating Income Margin. The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals and customary closing conditions.
(Photo: Priscilla Du Preez on Unsplash)
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