Investment research firm Morgan Stanley Capital International (MSCI) has acquired 66% of the Burgiss Group (Burgiss) for $697m (£547m) in cash.

The New Jersey-based Burgiss provides data and analytic solutions for investors. Since MSCI’s initial investment in January 2020, MSCI will have invested an aggregate of $931m (£730.4m) to acquire all of Burgiss.

Burgiss’ dataset covers 13,000 private asset funds around the world and serves approximately 1,000 clients in 40 countries.

According to GlobalData’s deals database, the acquisition will expand MSCI’s suite of multi-asset class technology solutions and the Burgiss Caissa Platform, a performance and risk analysis hub for public and private investment.

BlackRock and MSCI are currently under investigation by a US congressional committee on China. The committee claims the two facilitated investments to blacklisted Chinese companies.

The House of Representatives Select Committee on the Chinese Communist Party found the Chinese companies guilty of stoking China’s military advancement and human rights abuses.

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