Morningstar Acquires Equity Stake in PitchBook Data, Inc., Private Equity Data Provider
September 28 2009 - 10:18AM
PR Newswire (US)
CHICAGO, Sept. 28 /PRNewswire-FirstCall/ -- Morningstar, Inc.
(NASDAQ: MORN), a leading provider of independent investment
research, today announced that it has acquired a minority equity
stake in PitchBook Data, Inc. Based in Seattle, PitchBook offers
detailed data and information about private equity transactions,
investors, companies, limited partners, and service providers. Liz
Kirscher, president of Morningstar's data services business, will
join PitchBook's board of directors. Financial terms were not
disclosed. "Private equity investments represent a significant
asset pool and have been attracting increasing investor interest
because of their low correlation with the stock market," Kirscher
said. "PitchBook's unique research and data collection techniques
allow the company to provide private equity information that is
difficult to find anywhere else. Investing in the company will
allow Morningstar to work with PitchBook to continue to grow and
develop its offerings, and it advances our goal of providing
comprehensive coverage of the investing universe." Founded in March
2007, PitchBook's primary products include online and print
publications that track and analyze all stages of private equity
transactions -- from companies and investors to service providers.
PitchBook's research team also investigates and compiles detailed
transaction information, including terms and structures, amounts,
valuations, and multiples for small-, mid- and large-market deals
across all industries. In the coming months, Morningstar expects to
incorporate general information about U.S. private equity firms and
funds from the PitchBook database into Morningstar Direct(SM), the
company's institutional research platform. "Providing private
equity professionals and advisors with innovative tools and
intelligence is our goal at PitchBook," said John Gabbert, CEO and
founder of PitchBook. "We share a common mission and common values
with Morningstar -- providing high-quality, comprehensive
information, data, and analysis that allow people to make
better-informed investing decisions. Morningstar also has a great
deal of experience and expertise in data collection and analysis,
which we will be able to leverage as we continue to grow our
business." About Morningstar, Inc. Morningstar, Inc. is a leading
provider of independent investment research in North America,
Europe, Australia, and Asia. The company offers an extensive line
of Internet, software, and print-based products and services for
individuals, financial advisors, and institutions. Morningstar
provides data on nearly 325,000 investment offerings, including
stocks, mutual funds, and similar vehicles, along with real-time
global market data on more than 4 million equities, indexes,
futures, options, commodities, and precious metals, in addition to
foreign exchange and Treasury markets. The company has operations
in 19 countries and minority ownership positions in companies based
in three other countries. About PitchBook Data, Inc. PitchBook is
an independent research firm dedicated to providing premium data,
news, and analysis to the private equity industry. As a
specialty-focused information resource, PitchBook's core strength
is its ability to meticulously collect, organize, and analyze
hard-to-find private equity deal data. ©2009 Morningstar, Inc. All
rights reserved. MORN-C Media Contact: Alexa Auerbach, 312-696-6481
or DATASOURCE: Morningstar, Inc. CONTACT: Alexa Auerbach of
Morningstar, Inc., +1-312-696-6481, Web Site:
http://www.morningstar.com/
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