GLOBAL - Index giant MSCI has agreed to acquire Measurisk for an undisclosed sum.
Measurisk - an affiliate of JP Morgan Worldwide Securities Services - is a provider of risk-transparency and risk-measurement services for hedge fund investors.
MSCI said it expected to complete the deal by the end of this month, subject to customary closing conditions.
Henry Fernandez, chief executive at MSCI, said the acquisition would "bring together two leaders in the field of risk reporting and aggregation services" - RiskMetrics HedgePlatform and Measurisk InterSight.
"Institutional investors, including pension funds, are demanding increasing levels of transparency from their hedge fund managers," he said.
"This transaction will allow us to develop a common platform and set the standard for analysing and reporting hedge fund risk."
News of the Measurisk deal follows close on the heels of MSCI's acquisition of proxy advisory company RiskMetrics for $1.55bn (€1.2bn) in March.
MSCI said it did not expect the Measurisk deal to have a material impact on its results for the fiscal year 2010.