Crisil, part of S&P Global, has reached an agreement to acquire PriceMetrix, the Toronto-based benchmarking and analytics business currently owned by McKinsey.

Financial details of the deal have not been disclosed.

PriceMetrix provides data and performance benchmarks to wealth managers across the US and Canada.

Its database encompasses about $8tn of assets under management and information on roughly 30 million accounts, built from 25 years of historical data.

The deal covers PriceMetrix’s suite of tools, including ValueOne, FeeCheck, CommissionCheck and SignalOne, along with advisory offerings and region-wide surveys covering the North American wealth management market.

Once the purchase is finalised, PriceMetrix will be integrated into Crisil Coalition Greenwich and its staff will move to Crisil.

McKinsey will retain access to PriceMetrix insights for use in its advisory work.

Crisil managing director and CEO Amish Mehta said: “With this acquisition, Crisil strengthens its position as a leading provider of benchmarking and analytics across financial services.

“PriceMetrix’s proven expertise in wealth management and its rich data assets perfectly complement our existing offerings. Together, we will deliver enhanced insights and create significant value for clients globally.”

The transaction is expected to complete within the coming months, subject to customary closing conditions.

McKinsey & Company global wealth and asset management practice senior partner, co-lead Jonathan Godsall said: “PriceMetrix has been an important part of our wealth and asset management practice.

“We are fortunate to have had the opportunity to work with this outstanding team and to have played a part in further developing what is now a market-leading capability.

“We are grateful to all our colleagues and clients who have been part of that journey and are excited about their future under Crisil’s leadership and direction.”