CHICAGO, March 31, 2016—Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has acquired RequiSight, LLC, which does business as RightPond, a provider of business intelligence data and analytics on defined contribution and defined benefit plans for financial services firms. Morningstar acquired RightPond from Rocaton Investment Advisors, LLC, an institutional investment advisor in Norwalk, Connecticut. Terms were not disclosed.
RightPond is a business intelligence and analytics capability that reveals gaps, trends, outliers, and risk signals regarding plan performance, fees, capital flow, gatekeeper relationships, and best practices of defined contribution and defined benefit plans. These plans include corporate retirement plans, including pensions, 403(b)s, and 401(k)s; health and welfare plans; public pension funds; foundations; endowments; and other institutional investors.
Morningstar will continue to offer RightPond as a standalone capability until it is integrated into Morningstar® Data and Morningstar DirectSM, the company's cloud-based investment analysis platform for institutions and advisors. Eventually, the company will rebrand RightPond under the Morningstar name.
RightPond, based in Westport, Connecticut, was first developed in 2012 by Rocaton as a benchmarking tool to help its institutional investors become more efficient at setting strategy and measuring risk. The development team included two data scientists with backgrounds from IBM Research who tackled the daunting task of harnessing massive sets of structured and unstructured data. The company created a data extraction, normalization, and analytics platform and commercialized it in early 2014 as RightPond.
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