In The News

Ropes & Gray Advises Engine No. 1 on Sale of ETF Business to TCW Group

Practices: Asset Management

Ropes & Gray represented Engine No. 1’s exchange-traded fund business on its sale to asset management firm TCW Group. The transaction, which was announced July 25 in a press release, is expected to close in the third quarter of 2023, subject to shareholder approval.

TCW will acquire the entirety of Engine No. 1’s Transform ETF platform, including the Transform Climate ETF, the Transform Supply Chain ETF and the Transform 500 ETF index fund. The Transform ETF platform manages over $600 million in U.S. equity ETFs focused on the energy transition and supply chain onshoring. The deal builds on TCW’s existing strategies in artificial intelligence, space technology, next-generation mobility, and renewable energy infrastructure.

The team was led by asset management partners Paulita Pike and Brian McCabe.

Cookie Settings