Morningstar acquired PitchBook for $185 million, according to a CNBC interview with Morningstar CEO Kunal Kapoor cited in a LinkedIn post.
The post describes the purchase as one of Kapoor's first major decisions as CEO and as a bet on private markets made before they became a mainstream investment focus. It says the deal drew skepticism at the time.
According to the post, Kapoor told CNBC's Steve Sedgwick that the acquisition helped transform Morningstar from a business primarily known for investment research into a broader financial data company.
The source does not give a closing date for the transaction or further terms.