said David Solomon, CEO of Goldman Sachs.
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Goldman’s Sachs announced Monday that it has agreed to acquire Innovator Capital Management, a provider of defined outcome ETFs, for about $2 billion in its latest deal, strengthening its wealth management arm.
Goldman said the acquisition is expected to close in the second quarter of 2026 and will increase its ETF offering in a fast-growing corner of the investment world.
Fixed-outcome ETFs use contracts that include options to mitigate downside risk or provide a targeted return over a set period of time. The innovator had $28 billion in assets under its supervision across 159 ETFs as of September 30.
“Active ETFs are dynamic, transformative, and one of the fastest growing segments in today’s public investment environment,” Goldman CEO David Solomon said in a news release announcing the deal. “By acquiring an innovator, Goldman Sachs expands our access to the latest world-class investment products.”
Goldman Sachs has made asset and asset management a priority since its shift away from consumer banking, and has made a series of deals in the space this year. In September, Goldman announced it would invest $1 billion in T. Rowe Price, and the following month it announced the acquisition of venture capital investor Industry Ventures to strengthen its alternative investment platform.
Goldman said Monday that more than 60 of Innovator’s employees will join the bank’s wealth management division once the deal closes.
