MSCI Inc. entered into a strategic relationship with The Burgiss Group LLC intended to accelerate and expand the use of data, analytics and other investment decision support tools for investors in private assets globally.
MSCI will also make a $190 million investment in Burgiss for a significant minority interest. Burgiss develops investment decision support tools for the private capital market.
The partnership allows the companies to expand their current offerings and develop new tools and solutions for investors and managers of private assets and multi-asset-class portfolios.
MSCI's investment will not impact its adjusted EBITDA and is not expected to have a material impact on adjusted EPS in 2020. The investment will be accounted for under the equity method, with MSCI's share of Burgiss' earnings being recognized in other income or expense, net.
Davis Polk & Wardwell LLP acted as legal adviser to MSCI.