Morningstar Inc. has acquired Moorgate Benchmarks, a privately held London-based global provider of index design, calculation and administration. ETFS Capital provided seed funding to Moorgate Benchmarks in 2019 and had been its sole external investor.
Moorgate has become a wholly owned subsidiary of Chicago-based Morningstar. Its 20 employees, based in the UK and Germany, have joined Morningstar’s index business. Tobias Sproehnle, chief executive at Moorgate Benchmarks, will also become head of Morningstar Indexes in Europe.
Financial terms of the transaction were not disclosed.
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