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The purchase price for LCD, which is the industry standard for leveraged loan data, news, analysis, and indexes, providing coverage across the full lifecycle of loans, is up to $650m in cash. The leveraged loan market data provider will integrate with Morningstar's PitchBook Platform, which delivers data, research, and technology covering the breadth of the private and public capital markets.
"As the alternative asset markets continue to grow and deepen, this acquisition presents new opportunities for PitchBook and LCD to solve real customer problems together and address the need for transparency within the private credit markets," said John Gabbert, founder and CEO of PitchBook. "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. There's nothing else out there with more comprehensive access to this data all in one place."
