SAN FRANCISCO—October 16, 2023 — Engine No. 1, an alternative asset manager that provides capital and operational expertise to industries undergoing fundamental transition, today announced the close of the sale of its Transform ETF platform to The TCW Group.
“The closing of the sale of our ETF platform to TCW marks the successful evolution of a business we launched and rapidly developed to become a leader in the active thematic space,” said Chris James, Engine No. 1 Founder and Chief Investment Officer. “Engine No. 1’s focus on the value creation opportunities in decarbonization and re-industrialization propelled the success of the ETF platform and continues with our private capital business.”
Engine No. 1’s private capital business focuses on unlocking bottlenecks in the energy transition, especially in addressing the secular demand for critical raw materials to support widespread electrification.
With the sale’s closing, TCW has acquired the active thematic Transform Climate ETF (Ticker: NETZ); Transform Supply Chain ETF (Ticker: SUPP); and the Transform 500 ETF (Ticker: VOTE) index fund. Combined, the Transform ETF platform manages more than $600 million in U.S. equity ETFs.
Engine No. 1’s ETF portfolio managers and staff will join TCW as part of the acquisition.
“We are tremendously grateful to the entire team moving to TCW and we look forward to their continued success as part of TCW,” James said. “We are especially appreciative of the tireless work of Jennifer Grancio, a founding member of Engine No. 1 who helped build the business and make this sale possible.”
About Engine No. 1
Engine No. 1 is an alternative asset manager that creates value for shareholders and companies by providing capital, as well as operational and technological expertise, to industries that are undergoing fundamental transition. The firm is focused on the investment themes of decarbonization and the relocalization of North American supply chains. For more information, please visit: www.engine1.com
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