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Morningstar will pay up to $650 million in cash to acquire the Leveraged Commentary & Data business from S&P Global

Morningstar to Acquire Leveraged Commentary & Data from S&P Global 

Chicago-based Morningstar Inc. has reached an agreement to acquire Leveraged Commentary & Data (LCD), a market leader in news, research, data, insights, and indexes for the leveraged finance market, from S&P Global. The purchase price is up to $650 million in cash. 

S&P Global was required to divest the LCD business as a condition of regulatory approval from the European Commission on its merger with IHS Markit. LCD will integrate with Morningstar’s PitchBook Platform, which delivers data, research, and technology covering the private and public capital markets.  

“LCD’s in-depth coverage of the leveraged loan market combined with PitchBook’s institutional-grade coverage of the private and public equity markets will create an end-to-end data and research tool for enabling core workflows,” said John Gabbert, founder and CEO of PitchBook. “There’s nothing else out there with more comprehensive access to this data all in one place.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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