CHICAGO and SEATTLE, June 1, 2022 /PRNewswire/ — Morningstar, a leading provider of independent investment research, has completed its previously announced acquisition of Leveraged Commentary & Data, a market leader in news, research, data, insights, and indexes for the leveraged finance market from S&P Global.
LCD is the industry standard for leveraged loan data, news, analysis, and indexes, providing coverage across the full lifecycle of loans. The leveraged loan market data provider will integrate with Morningstar’s PitchBook Platform, which delivers data, research, and technology covering the breadth of the private and public equity markets. The S&P/LSTA Leveraged Loan Index—the flagship benchmark for this asset class—and related indexes will become part of the expanding fixed-income capabilities from Morningstar Indexes.
“LCD is the standard for private credit and leveraged loan data and research. By integrating LCD’s data, news, and analysis on leveraged loans into PitchBook, we’ll be able to address two major investor needs. First, provide transparency into every metric of the leveraged loan market, including structure, pricing, yield, volume, along with secondary market performance and leveraged buyout/private equity activity. Second, create a centralized tool for private capital and debt markets. We’re looking forward to partnering with LCD to deliver even greater value to our customers,” said John Gabbert, founder and CEO of PitchBook.
Nearly 60 LCD employees will join Morningstar as part of the PitchBook team and the Morningstar Indexes group. The transaction was funded through a combination of cash on hand and Morningstar’s five-year multi-currency credit facility. Additional information about the acquisition is available here.
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news, and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York, London, and Hong Kong and serves more than 70,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as a subsidiary.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $265 billion in assets under advisement and management as of March 31, 2022. The Company has operations in 29 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.
