Morningstar Inc. has completed its $42 million acquisition of Realpoint LLC, a Nationally Recognized Statistical Ratings Organization (NRSRO) that specializes in structured finance.
The Horsham, Penn.-based firm offers securities ratings, research, surveillance services and data on commercial mortgage-backed securities. Realpoint has approximately 225 institutional investor subscribers, the majority of whom are invested in mortgage-backed securities.
Realpoint will become a business unit of Morningstar's equity and credit research arm, and will eventually be rebranded under the Morningstar name.
The deal was first announced on March 19.
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