Morningstar, the investment insights platform, has agreed to purchase the Center for Research in Security Prices, a stock market data and indexes provider from the University of Chicago, in a transaction worth $375 million. 

Morningstar will acquire CRSP’s market indexes, which account for more than $3 trillion in U.S. equities across market capitalizations, investment styles, and sectors, providing meaningful scale for Morningstar’s index capabilities, Morningstar said.  

CRSP, founded in 1960 at the University of Chicago, provides investors, academics, and regulatory authorities with data and market indexes to support research, scholarship, and investment strategies.  

The transaction is expected to close in the fourth quarter of this year. 

“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,” Kunal Kapoor, CEO of Morningstar, said. “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 June, Morningstar launched a suite of new features within its Direct Advisory Suite — the next evolution of its Advisor Workstation platform, which is aimed at helping financial advisors analyze, integrate, and communicate private market exposures within client portfolios.