MSCI Inc.

MSCI Inc. (formerly Morgan Stanley Capital International) is a leading global provider of critical decision support tools and services for the global investment community, headquartered in New York City. The company has evolved from pioneering the first global equity indexes outside the United States to becoming an essential infrastructure provider for institutional investors worldwide. Founded through a unique licensing arrangement in 1969 when Capital International introduced the first global equity indexes, the MSCI brand was established in 1986 when Morgan Stanley licensed these groundbreaking indices. The company was formally incorporated in 1998 and completed its transformation to an independent public company in 2007-2009 when Morgan Stanley divested its stake through an IPO. As of 2025, MSCI's influence extends across the global investment landscape with funds worth over $16.5 trillion based on MSCI indices, generating trailing 12-month revenue of $3.06 billion. The company operates through four primary business segments: Index (its flagship offering including MSCI World, MSCI Emerging Markets, and MSCI All Country World indices), Analytics (portfolio management and risk management software), ESG and Climate (sustainability ratings, data, and research), and Private Assets (real estate and infrastructure data and analytics). MSCI serves approximately 7,100 clients in more than 100 countries, including the world's largest asset managers, pension funds, insurance companies, and financial institutions. Its business model centers on licensing indices to index funds and ETFs (charging 0.02-0.04% of invested volume), selling analytics subscriptions, and providing ESG ratings and data services. The company has grown strategically through major acquisitions including Barra Inc. ($816.4 million in 2004), RiskMetrics Group and Measurisk (2010), and Investment Property Databank (2012). These acquisitions transformed MSCI from a pure index provider into a comprehensive provider of investment decision support tools encompassing risk analytics, ESG data, and real estate benchmarking. The company maintains its competitive edge through continuous innovation, including the 2024 expansion of AI-enhanced risk and analytics tools and integration of AI-powered insights into new solutions. MSCI's indices have become the gold standard for institutional investors, with its MSCI ACWI Index serving as the primary benchmark for global equity portfolios. The company plays a critical role in the sustainable investing revolution, with its ESG ratings influencing trillions in investment decisions. MSCI's long-term strategy positions the company to capitalize on several secular trends: the continued growth of passive investing, increasing demand for portfolio customization, the global sustainability revolution, and the expansion of private markets requiring greater transparency. As of September 2025, MSCI maintains a client retention rate of 94.8%, demonstrating the mission-critical nature of its products to institutional investors worldwide.