State Street Unit to Buy Into Research Firm

State Street Global Alliance has announced a definitive agreement to buy a minority interest in GovernanceMetrics International.

GovernanceMetrics is a New York global corporate governance research and ratings firm that publishes corporate governance ratings on companies in 21 markets. It generates revenue by offering information to subscribers that include corporate and professional advisory firms, institutional investors, mutual funds, money management firms, pension funds and government agencies.

Details of the deal were not released. State Street Global Alliance is a strategic joint venture owned by State Street Global Advisors and Stichting Pensioenfonds, a Dutch pension fund. State Street Global Advisors is the investment management group of State Street Corp. in Boston.

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