TCW Group, a global asset management firm, has acquired the Transform thematic exchange traded fund (ETF) business from Engine No. 1, an activist investor that focuses on sustainable transition. Engine No. 1 became known for its successful campaign to win seats on Exxon’s board, pushing them towards clean and renewable energy. The Transform ETF platform, which manages over $600 million in U.S. equity ETFs, includes the Transform Climate ETF, Transform 500 ETF, and Transform Supply Chain ETF. By acquiring the Transform ETF platform, TCW aims to expand its capabilities and infrastructure, providing clients with innovative financial vehicles for sustainable investing.
Resource: https://www.esgtoday.com/tcw-acquires-engine-no-1s-sustainable-transformation-focused-etf-business/