Morningstar Inc. has introduced the Europe Modern Market 50 Index, a new benchmark that combines the largest and most significant European companies that are publicly listed with late‑stage venture‑backed private firms. The index is designed to give investors a single view of high‑growth opportunities that are not fully represented by traditional equity indices.
The launch expands Morningstar’s PitchBook platform, adding a product line that can generate subscription and licensing revenue. By offering a private‑market index, Morningstar positions itself to compete more directly with MSCI, Bloomberg, and other data providers that are expanding their private‑market coverage.
The move reflects the growing importance of private‑market data. Venture‑backed companies now represent a substantial portion of global equity markets, and the European private‑market segment is expanding, with many firms valued at $1 billion or more. Morningstar’s new index aims to capture this segment’s growth potential and provide asset managers, advisors, and institutional investors with differentiated insights.
The launch underscores Morningstar’s strategy to deepen its independent research moat and leverage its data taxonomy. By integrating AI tools and expanding its data coverage, Morningstar seeks to deliver more comprehensive analytics and support investment decisions across both public and private markets.
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