The New York-based organisation bought out the ESG strategy and implementation advisory in order to to beef up its environmental, social and governance (ESG) offerings.
The purchase is the third acquisition since private equity firm TPG took a majority stake in the shareholder engagement services firm last year.
Alvise Recchi, Morrow Sodali CEO said: “HXE provides the firm with full-service ESG solutions, in particular expertise in climate-related matters which are particularly relevant now.”
Morrow Sodali, which offers proxy solicitation, capital markets intelligence and corporate governance services, paid an undisclosed price for six-year-old HXE Partners, which helps identify and develop ESG priorities for clients.
As part of the move, HXE Partners’ Founder and Chief Executive, Harry Etra will join Morrow Sodali as a Managing Director, and all of the HXE’s roughly three dozen staff members will also move to the firm.
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