MSCI acquires First Street for $120M climate push

• MSCI (NYSE:MSCI) agreed to acquire First Street for $120 million in cash to expand its physical climate risk analytics.
• The deal adds property-level climate risk data covering more than 2 billion global structures to MSCI’s platform.
• The transaction is expected to close in Q3 2026, subject to regulatory approval and performance-based payments.

MSCI (NYSE:MSCI) agreed to acquire First Street for $120 million in cash as part of a strategy to expand its physical climate risk data and analytics capabilities across global markets.

The acquisition strengthens MSCI’s climate and geospatial offerings by integrating First Street’s property-level models that assess physical risk exposure across more than 2 billion structures worldwide.

“The financial consequences of where assets are located have come into sharp focus,” said MSCI Head of Sustainability and Climate Richard Mattison, highlighting growing demand for climate-linked investment insights.

First Street said its models convert climate hazards into financial impact estimates using building-level data, infrastructure dependencies, and adaptation factors to support investment and risk decisions.

MSCI said the transaction includes an additional contingent cash component tied to revenue thresholds and is expected to close in the third quarter of 2026 pending regulatory approvals.

The company will integrate First Street’s analytics into its Sustainability and Climate segment, reinforcing its position in climate scenario analysis, geospatial intelligence, and investment risk tools.