MSCI's Burgiss deal did not change how the data is sourced

The record

MSCI completed its acquisition of Burgiss, a private-markets data and analytics firm, on 2 October 2023. MSCI's own completion announcement, filed as an exhibit to a Form 8-K with the Securities and Exchange Commission, describes Burgiss as "a market-leading provider of data, analytics, and technology solutions for investors in private assets." The deal had been announced earlier: MSCI's agreement announcement, also filed with the SEC, states that MSCI agreed to pay $697 million in cash for the remaining 66% of Burgiss it did not already own, bringing its total aggregate investment in Burgiss, including a prior 2020 stake, to $913 million, with Burgiss then covering "over 13,000 private asset funds around the world, representing $15 trillion in cumulative investments."

What the sources establish

Before the acquisition, Burgiss described its own data collection method directly. An archived copy of the firm's Universe Analytics and Benchmarks page, preserved by the Wayback Machine, labels the Burgiss Manager Universe "Research-Quality Data, Limited Partner-Sourced," reporting coverage of "over 11,600 private capital funds and fund-of-funds, representing over $9 trillion in committed capital" with fund histories dating to 1978. "Limited Partner-Sourced" is the operative phrase: Burgiss compiles its figures from the cash-flow and valuation records LPs and fund administrators actually hold, rather than asking general partners to self-report performance in a survey, which is a records-based collection method distinct from a voluntary survey a provider might run and aggregate.

Scope and revision

The acquisition changed who owns and distributes this dataset without changing, on MSCI's own account, how the underlying data is sourced. A current MSCI page describing its private capital offerings, retrieved 16 September 2026, now markets the successor product under the "Private i" name rather than the "Private iQ" branding Burgiss used before the deal, and burgiss.com itself now redirects to MSCI's site. Coverage figures also differ by date, 11,600 funds and $9 trillion in an archived 2022 snapshot versus 13,000 funds and $15 trillion cited in MSCI's August 2023 announcement, consistent with an actively growing database rather than a restated total.

The decision in front of you

An LP or GP citing Burgiss-sourced benchmark data should specify whether a figure predates or postdates the MSCI integration, since product names, coverage totals, and distribution terms have all moved; this is an editorial habit, not an instruction from either company's materials. It is also worth confirming which entity now administers a given data license, since a subscription or citation agreement signed with Burgiss may now route through MSCI.

• Does the cited coverage figure come from before or after the MSCI acquisition closed in October 2023?
• Is the product being referenced still called Private iQ, or has it been rebranded under MSCI?
• Does the underlying collection method remain LP- and fund-administrator-sourced, as Burgiss originally described it?

A records-based dataset does not stop being records-based when its owner changes, but its name, packaging, and reported coverage can, and a citation should keep pace with which version it describes.