Morningstar Inc. announced Tuesday it will acquire the Center for Research in Security Prices, a provider of historical stock market data and indexes, from the University of Chicago, for $375 million. The transaction is expected to close in the fourth quarter of 2025.
As part of the deal, Morningstar will obtain the CRSP Market Indexes, the benchmarks for more than $3 trillion in U.S. equities across market capitalizations; investment styles; sectors; and environmental, social and governance factors.
“By bringing CRSP’s trusted data validation processes and robust indexing methodologies into our fold, we’re reinforcing our commitment to offering high-quality, data-driven tools that empower investors to make smarter decisions,” said Kunal Kapoor, Morningstar’s CEO, in a statement. “We know that assets tied to indexes play a critical role for asset owners when choosing providers, and this acquisition allows us to expand our capabilities to these clients.”
In 2012, Vanguard transitioned 22 index funds to FTSE benchmarks and new benchmarks developed by CRSP, from MSCI benchmarks. CRSP is used as a benchmark index for 26 U.S. mutual funds and ETFs, according to data provided by ISS Market Intelligence, which, like CIO, is owned by ISS STOXX. Of those 26 funds, which hold a combined $3.2 trillion in assets, 15 are Vanguard funds and eight are Praxis funds, according to ISS MI.
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CRSP generates approximately $55 million in annual revenue, according to the announcement. Morningstar had approximately $352 billion in assets under management as of June 30.
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Tags: Morningstar
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