Goldman Sachs acquires ETF firm Innovator Capital Management for $2 billion
Goldman Sachs Expands ETF Offerings with Acquisition of Innovator Capital Management
Goldman Sachs announced on Monday that it has reached an agreement to acquire Innovator Capital Management, a leading provider of defined-outcome ETFs, for approximately $2 billion. This strategic move is aimed at strengthening Goldman’s asset management division and enhancing its presence in the rapidly growing ETF market.
Defined-outcome ETFs are investment vehicles that utilize contracts, including options, to protect against downside risks or provide targeted returns over specific time periods. Innovator Capital Management currently oversees $28 billion in assets across 159 ETFs as of the end of September.
In a statement regarding the acquisition, Goldman Sachs CEO David Solomon highlighted the importance of active ETFs in today’s investment landscape, describing them as dynamic and transformative. He expressed enthusiasm about the opportunity to expand access to innovative investment products through the acquisition of Innovator.
Goldman Sachs has been actively pursuing growth opportunities in the asset management sector, following a strategic shift away from consumer banking initiatives. Earlier this year, the firm announced a $1 billion investment in T. Rowe Price and acquired Industry Ventures to enhance its alternative investments platform.
Upon completion of the acquisition, Innovator Capital Management’s team of over 60 employees will join Goldman Sachs’ asset management division, further strengthening the firm’s capabilities in delivering cutting-edge investment solutions to clients.
The deal is expected to close in the second quarter of 2026, pending regulatory approvals. Goldman Sachs continues to demonstrate its commitment to expanding its presence in key growth areas of the financial services industry through strategic acquisitions and investments.
