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Goldman Sachs Boosts Growth with $2 Billion Deal to Acquire Innovator Capital

Prime Highlights:

  • Goldman Sachs is expanding its asset and wealth management business with a major $2 billion acquisition.
  • The deal strengthens Goldman’s presence in the fast-growing ETF market.

Key Facts:

  • Innovator Capital manages $28 billion across 159 ETFs, offering defined-outcome investment options.
  • The acquisition is expected to close in the second quarter of 2026, pending regulatory approval.

Background:

Goldman Sachs is expanding its asset and wealth management business by buying Innovator Capital Management, a major provider of defined-outcome ETFs, in a deal worth about $2 billion. The acquisition marks one of Goldman’s most significant moves in the ETF space and reflects the firm’s continued focus on high-growth investment segments after moving away from its consumer banking strategy.

Innovator Capital manages $28 billion across 159 ETFs as of September 30. These funds use options to help investors reduce risk or aim for steady returns, making them a popular choice for people who want more stability in the market.

Goldman Sachs said the deal is expected to close in the second quarter of 2026, subject to regulatory approvals. Once completed, more than 60 employees from Innovator will join Goldman’s asset management division, strengthening its expertise in the ETF arena. The firm said the deal will help it offer more modern and flexible investment products that fit today’s market needs.

David Solomon, CEO of Goldman Sachs, described active and defined-outcome ETFs as one of the fastest-growing areas in investment management. He added that acquiring Innovator will allow the bank to broaden access to new, high-quality ETF strategies for clients worldwide.

Goldman Sachs is expanding its asset and wealth management business by agreeing to buy Innovator Capital Management, a leading defined-outcome ETF provider, in a deal worth about $2 billion. With the Innovator acquisition, Goldman continues to reinforce its long-term strategy of building a stronger, more diversified investment platform.