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Engine No. 1

Engine No. 1
IndustryHedge fund
Founded2020 (2020)
Headquarters
San Francisco, California
,
U.S.
Area served
Worldwide
Number of employees
39
Websiteengine1.com

Engine No. 1 is an American activist[1][2] and impact-focused investment firm.[3][4] It attracted attention with its campaign to replace four members of ExxonMobil's board of directors despite owning only 0.02% of the company's shares.[1][5] The firm describes its investment approach as "active ownership", as it prefers to work with management instead of launching activist campaigns.[6]

The fund was founded in December 2020[3][7] and its most recent[a] 13F filing indicated that it had $430 million in assets under management.[8] Jennifer Grancio is the fund's chief executive officer and Christopher James its executive chairman.[9][10] As of October 2021, the fund employed 39 staff.[11]

  1. ^ a b Phillips, Matt (2021-06-09). "Exxon's Board Defeat Signals the Rise of Social-Good Activists". The New York Times. ISSN 0362-4331. Retrieved 2021-10-13.
  2. ^ Kerber, Ross (2022-01-12). "After Exxon win, Engine No. 1 turns to diversity, workforce issues". Reuters. Retrieved 2022-02-15.
  3. ^ a b Herbst-Bayliss, Svea (2020-12-01). "Hedge fund veteran launches impact firm with former Jana, BlackRock executives". Reuters. Retrieved 2021-10-13.
  4. ^ Herbst-Bayliss, Svea (2021-06-02). "Investment firm Engine No. 1 prepares to launch Transform 500 ETF after Exxon win". Reuters. Retrieved 2022-03-02.
  5. ^ Kishan, Saijel; Carroll, Joe (2021-06-09). "The Little Engine That Won an Environmental Victory Over Exxon". Bloomberg. Retrieved 2021-10-16.
  6. ^ Choe, Stan (2021-12-28). "After shaking up Exxon's board, Engine No. 1 widens its sights". Los Angeles Times. Retrieved 2022-03-28.
  7. ^ Kishan, Saijel (2020-12-01). "Hedge Fund Veteran Chris James to Start Impact-Investing Firm". Bloomberg. Retrieved 2021-10-13.
  8. ^ Graffeo, Emily (2022-01-24). "Engine No. 1 Lays Its Cards on the Table for Next Proxy Targets". Bloomberg. Retrieved 2022-01-30.
  9. ^ Crowley, Kevin; Hyde, Caroline; Romaine, Bostick (2021-10-20). "Engine No. 1 Wants Exxon to Make Different Capital Decisions". Bloomberg.com. Retrieved 2021-10-27.
  10. ^ Cite error: The named reference WEngine was invoked but never defined (see the help page).
  11. ^ Celarier, Michelle (2021-10-06). "The Commonsense Capitalism of Chris James". Institutional Investor. Retrieved 2021-10-13.


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