MSCI acquires Burgiss

MSCI has entered into a definitive agreement to acquire the remaining 66% of The Burgiss Group for $697M in cash. Burgiss is a Hoboken, New Jersey-based market-leading 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 $913M to acquire all of Burgiss. With over 35 years of expertise in alternative investments, Burgiss offers private asset data, analytics, and software applications, including performance data that dates back to 1978. The Burgiss dataset covers over 13,000 private asset funds around the world, representing $15T in cumulative investments across private equity, private real estate, private debt, infrastructure, and natural resources in 195 countries. Burgiss serves approximately 1,000 clients in 40 countries with 650+ employees across the U.S., Europe, Asia Pacific, and South Africa. This acquisition will also expand MSCI’s suite of multi-asset class technology solutions with the Burgiss Caissa Platform. MSCI anticipates funding the purchase consideration from existing liquidity sources. Burgiss is expected to generate over $90M of revenue in 2023 with an EBITDA margin and operating income margin in the mid-teens. The transaction is expected to close in Q4.