TCW Group to acquire ETF Business from Engine No. 1.

TCW Group, a asset management firm, agreed to acquire ETF Business, which includes the active, thematic Transform Climate ETF, Transform Supply Chain ETF, and the Transform 500 ETF index fund, from Engine No. 1, an investment firm. Financial terms were not disclosed. "This acquisition signifies an early chapter in TCW’s next stage of growth, adding important capabilities and infrastructure to provide clients with the ability to access TCW’s best investment ideas and strategies through innovative financial vehicles. We look forward to integrating the teams into TCW and continuing to invest in the growth of an ETF platform," Katie Koch, TCW President and CEO.