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TCW Closes Acquisition of ETF Business from Engine No. 1.

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Vincent

MANews-(C)2009-2023

US-based asset management firm has closed an agreement to acquire the exchange-traded fund business and its infrastructure from Engine No. 1, the firm said.

With the completion of the transaction, TCW has acquired the entirety of Engine No. 1's Transform ETF platform, which includes the Transform Climate ETF (Ticker: NETZ); Transform Supply Chain ETF (Ticker: SUPP); and the Transform 500 ETF (Ticker: VOTE).

Combined, the Transform ETF platform manages more than USD 600m in US equity ETFs focused on supply chain onshoring, energy transition and US large-and-mid-cap.

The acquisition expands the range of investment products available to TCW's clients and adds a capability in the tax-advantaged ETF wrapper.

The Transform ETF platform expands TCW's capabilities by providing the infrastructure and expertise for TCW to build an even larger ETF platform which may include other active core and thematic strategies.

With the close of the transaction, Jennifer Grancio, formerly chief executive officer of Engine No. 1, has been named TCW's Global Head of Wealth.

In this newly created role, she will oversee global wealth distribution...

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