SEATTLE – July 19, 2018 – PitchBook, a premier data provider for the private and public equity markets, today unveiled a redesigned Research Center that integrates thematic research reports from Morningstar, creating a centralized location for private and public capital market research. Building on its previous integration of Morningstar’s company-specific research spanning 1,500 equities, clients are now able to access eight different types of Morningstar’s thematic research. This is in addition to PitchBook’s highly cited private market analyst research, including hundreds of reports on global venture capital, private equity, M&A and emerging tech trends. The launch of PitchBook’s new Research Center lays the foundation to increase the volume and velocity of cross-market research available within the PitchBook Platform.
The number of publicly traded U.S. companies has been nearly cut in half over the past 20 years, falling from 7,499 in 1998 to 4,336 in 2018, according to The World Federation of Exchanges. The decline has been driven by a paradigm shift in the private capital markets. The availability and ease of access to capital, especially for larger, high-quality companies, has enabled fast-growth private companies to elongate cash runways and further delay exits. This trend has been years in the making after extended periods of above-average fundraising. As private market deal making continues to grow and mature, it will have a corresponding impact on public financial market growth.
With PitchBook’s new Research Center, clients will be able to stay well-informed of rapidly evolving industries and identify cross-market trends that impact investment strategies. The Research Center will include the following eight types of Morningstar thematic research:
- Market Outlook – Showcases fundamental, forward-looking commentary of 11 sectors covered by equity research analysts, including Basic Materials, Communication Services, Consumer Cyclical, Consumer Defensive, Energy, Financial Services, Healthcare, Industrials, Real Estate, Technology, and Energy & Utilities.
- Sector Updates – Quarterly reports with a forward-looking focus albeit rearview mirror glance that provide a succinct overview of notable market trends and accentuate high conviction investment ideas occurring across 11 sectors covered by Morningstar’s equity research analysts.
- Observer – Deep-dives into industries, companies, and/or emerging trends with actionable investment ideas on industries covered. These reports are designed to address and tackle the larger issues that will drive long-term company valuations and assist clients in their own valuation process.
- Select Presentation – Analyst presentations include deep-dives into industries, companies, and/or emerging trends.
- Equity Best Ideas – The Best Ideas list is a compilation of stock ideas looking across sectors, industries, and geographies sourced from Morningstar’s global equity research team.
- Stock Picker – Authors evaluate holdings of 26 investment managers to identify trends and outliers among their holdings as well as any meaningful purchases and sales that took place during the period under examination.
- Canadian Research Update – Monthly report that provides a bottom-up perspective on the most important trends and factors influencing equity investments for each of the 11 Morningstar sectors that are listed on Canadian exchanges.
- Moat Framework - An extensive collection of articles that provides readers with conceptual explanation of key moat components and drivers in approximately 70 industries.
“If you think about the value proposition of combining Morningstar and PitchBook content, we are providing an extremely robust dataset that covers both the private and public markets as well as in-depth research and analytics to help clients make sense of the data – it’s hard to imagine any other duo providing these insights more successfully,” said Joanna McGinley, PitchBook’s vice president of PitchBook and Morningstar strategy. “The new Research Center in the PitchBook Platform is a shining example of how our combined data and research is providing unmatched value to customers.”
This latest integration adds to existing Morningstar research accessible in the PitchBook Platform. Since last year, PitchBook users have been able to access Morningstar’s in-depth coverage of over 1,500 equities, which rivals the largest independent research providers and bulge bracket banks. Morningstar’s equity research group’s consistent focus on sustainable competitive advantages, or Economic Moats, and independent, unbiased viewpoints into the public market differentiates its research from competition. Over the next twelve months and beyond, PitchBook will continue integrating future Morningstar research and additional third-party research into its Research Center to provide meaningful insights that drive investment decision-making.
“Leveraging the richness of both PitchBook and Morningstar data, insights can emerge as to how private capital market activity impacts the public equity market. We’re striving to help investors understand how private market events may affect their investment strategy,” said Paul Santarelli, vice president of sales and strategic initiatives. “The integration of Morningstar thematic research is an evolution of our continued mission to uncover meaningful insight into the evolving capital markets.”
For more information about PitchBook’s new Research Center, click here.
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York and London and serves nearly 16,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.
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