Morningstar, Inc. completed the acquisition of Center for Research in Security Prices, LLC from The University of Chicago for approximately $380 million.
Morningstar, Inc. (NasdaqGS:MORN) entered into a definitive agreement to acquire Center for Research in Security Prices, LLC from The University of Chicago for approximately $380 million on September 23, 2025. A cash consideration of $375 million will be paid by Morningstar, Inc. As part of consideration, $375 million is paid towards common equity of Center for Research in Security Prices, LLC. As part of the transaction, Morningstar will acquire the CRSP Market Indexes, which are the benchmarks for more than $3 trillion in US equities across market capitalizations, investment styles, and sectors, providing meaningful scale for Morningstar?s index capabilities.
For the period ending December 31, 2024, Center for Research in Security Prices, LLC reported total revenue of approximately $55 million. The CRSP team will officially join Morningstar Indexes.
The transaction is subject to customary closing conditions including regulatory approval. The transaction is expected to close in the fourth quarter of 2025.
William Blair & Company, L.L.C. acted as financial advisor for The University of Chicago. Mayer Brown LLP acted as legal advisor to Morningstar, Inc.
Morningstar, Inc. (NasdaqGS:MORN) completed the acquisition of Center for Research in Security Prices, LLC from The University of Chicago for approximately $370 million on February 2, 2026. The CRSP indexes will be rebranded under the Morningstar name.
Morningstar, Inc. is a provider of independent investment insights. It operates through five segments: Morningstar Data and Analytics, PitchBook, Morningstar Wealth, Morningstar Credit, and Morningstar Retirement. Morningstar Data and Analytics segment provides investors comprehensive data, research and insights, and investment analysis to empower investment decision-making. PitchBook segment provides investors with access to a collection of data and research covering the private capital markets, including venture capital, private equity, private credit and bank loans, and merger and acquisition activities. Morningstar Wealth segment brings together its model portfolios and wealth platform and practice and portfolio management software for registered investment advisers (RIAs). Morningstar Credit segment provides investors with credit ratings, research, data, and credit analytics solutions. Morningstar Retirement segment include managed retirement accounts and fiduciary services.
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Morningstar, Inc. completed the acquisition of Center for Research in Security Prices, LLC from The University of Chicago for approximately $380 million.
