Mark-It Partners, the cleverly named credit data supplier, has received equity commitments from nine more of its data contributors, bringing to 13 the total number of institutions contributing both data and cash to the business. The latest commitment means that all founding contributors have now exercised options to invest in the company. Mark-It intends to use the funds to finance additional investments.
The company last month acquired Loan-X, a Chicago-based provider of syndicated loan pricing data. The deal brings together two dealer-sponsored credit pricing platforms, which Mark-It Partners believes will make it the leader in providing valuation data services for corporate bonds, credit default swaps and syndicated loans.