Portico Capital Advises IPD on its Sale to MSCI
October 31, 2012
Portico Capital is pleased to announce the purchase of IPD Group, headquartered in London, by MSCI. IPD is the leading provider of property performance, benchmarking, analysis, indices and risk management tools which are used by institutional investors, fund managers, and lenders to the property sector. Portico served as an adviser to IPD on this transaction along with Lazard & Co. and Tom Van Oss.
Below is an article from Investment Europe that provides further details on the transaction:
MSCI acquires IPD group's property expertise
Index provider MSCI is to buy IPD Group for about $125m to boost its ability to offer property asset class based solutions to clients.
IPD provides property performance, benchmarking, analysis, indices and risk management tools, which are used by institutional investors, fund managers, and lenders to the property sector.
MSCI said the existing expertise within IPD will enable it to develop its own multi-asset modelling and benchmarking services, including adding property benchmarks to its indices services.
IPD reported revenue of $26.4m in the six months to 30 June, MSCI said, although the deal is not expected to impact on MSCI's own fiscal 2012 year. The deal is expected to close in the fourth quarter of 2012.
Henry Fernandez, chairman and CEO of MSCI Inc. said: "The acquisition of IPD is part of our core strategy to provide investment decision support tools to institutional investors across all major asset classes. IPD's real estate industry knowledge and strong capabilities complement MSCI's expertise in providing investment tools for the equities, fixed income, hedge fund, energy and commodities markets."
"This is an exciting addition to our business. We've seen significant demand from institutional investors globally for better coverage of private markets. The real estate investment market presents considerable opportunities for growth, and we look forward to helping to accelerate the institutionalization and globalization of real estate as an asset class."
Rupert Nabarro, chairman of IPD, added: "We believe this transaction is key to the long-term success of IPD, and it has the wholehearted support of our shareholders and staff. Our aim has always been to make IPD a truly global provider of real estate data and analytics, providing trusted benchmarks for the industry and developing real estate as a global asset class. MSCI's acquisition of IPD will help us reach these goals, while maintaining our real estate expertise and the well established IPD brand."
Portico Capital Securities LLC served as financial advisor to IPD with respect to this transaction.
MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools.
The company’s flagship product offerings are: the MSCI indices with approximately $7 trillion estimated to be benchmarked to them on a worldwide basis; Barra multi-asset class factor models, portfolio risk and performance analytics; RiskMetrics multi-asset class market and credit risk analytics; MSCI ESG (environmental, social and governance) Research screening, analysis and ratings; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due-diligence. MSCI is headquartered in New York, with research and commercial offices around the world.
IPD is a global real estate information business operating in 32 countries. With more than 320 employees it provides institutional investors, fund managers, occupiers, lenders, advisors and researchers with objective benchmarks and market indices. Its detailed databases cover some $1.4 trillion of property investments. IPD was founded in London in 1985 and is currently owned by leading UK institutions and commercial real estate brokers, the company’s founders Rupert Nabarro and Ian Cullen, and its employees.
About Portico Capital Securities, LLC
Portico Capital provides independent strategic and financial advisory services in the areas of mergers & acquisitions (M&A), recapitalizations and capital raisings exclusively to private and public companies in the global information and business services sector. The firm, founded in 2000, has offices in Greenwich, Connecticut and London, England. For more information, please visit http://www.porticocapital.com/
Giles Roshier, Managing Director & Head of Europe
+44 (0) 20 3011 0470