Goldman Sachs acquires ETF firm Innovator Capital Management for $2 billion

Goldmans Sachs on Monday in question In its latest deal to bolster the firm’s asset management division, it agreed to buy Innovator Capital Management, a provider of certain-result ETFs, for about $2 billion.

Goldman said the acquisition, expected to be completed in the second quarter of 2026, would boost ETF offerings in a fast-growing corner of the investment world.

Defined outcome ETFs use contracts with options to buffer downside risks or deliver targeted gains over specific time periods. Innovator had $28 billion in assets under custody in 159 ETFs as of Sept. 30.

“Active ETFs are dynamic, transformative and one of the fastest-growing segments in today’s public investment landscape,” Goldman CEO David Solomon said in a press release announcing the deal. “By acquiring Innovator, Goldman Sachs will expand access to modern, world-class investment products.”

Goldman Sachs, which has made wealth and asset management a priority since abandoning its retail banking move, has made a number of agreements in the sector this year. Goldman announced in September that it would invest $1 billion. T. Rowe Priceand the following month, the bank announced it had acquired venture capital investor Industry Ventures to bolster its alternative investment platform.

Goldman said on Monday that more than 60 of Innovator’s employees will join the bank’s wealth management division upon completion of the deal.