Kroll’s Transaction Advisory Services Team Advised the University of Chicago’s Center for Research in Security Prices on Its Proposed Sale to Morningstar

On September 24, 2025, University of Chicago announced the proposed sale of its Center for Research in Security Prices (CRSP) to Morningstar. 

Kroll’s Transaction Advisory Services Team provided sell-side financial due diligence services to the University of Chicago and CRSP in connection with the proposed transaction. 

 

About the University of Chicago’s Center for Research in Security Prices

Since 1960, CRSP has provided research-quality data to scholarly researchers and advanced the body of knowledge in finance, economics and related disciplines. Today, nearly 500 leading academic institutions in 35 countries rely on CRSP data for academic research and to support classroom instructions.

Investment practitioners rely on CRSP data to backtest strategies and to benchmark investment performance.

The CRSP Indexes are investable indexes that include cap-based, industry sector and value-growth indexes. Sixteen of these indexes have been selected by Vanguard as their new benchmarks for U.S. Equity Exchange Traded Funds (ETFs).

CRSP is committed to continued success, innovation and excellence. On January 1, 2020, CRSP officially announced its reorganization and became a limited liability company. CRSP, LLC is a wholly-owned subsidiary of the University of Chicago. CRSP retains a strong affiliation to  both the University of Chicago and its Booth School of Business.

 

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $352 billion in AUMA as of June 30, 2025. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. 

 

About Morningstar Indexes

As the fastest-growing global index provider for the last five years according to Burton-Taylor International Consulting, Morningstar Indexes was built to keep up with the evolving needs of investors—and to be a leading-edge advocate for them. Morningstar's rich heritage as a transparent, investor-focused leader in data and research uniquely equips Morningstar Indexes to support individuals, institutions, wealth managers and advisors in navigating investment opportunities across all major asset classes, styles and strategies. From assessing risk and return with traditional benchmarks to helping investors effectively incorporate ESG objectives into their investment process, our range of index solutions spans an investment landscape as diverse as investors themselves. We help investors answer today's increasingly complex questions so that they can more easily reach tomorrow's goals.