David Solomon, managing director of Goldman Sachs.
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Goldman Sachs announced Monday that it has agreed to buy Innovator Capital Management, a provider of defined outcome ETFs, for approximately $2 billion in its latest deal to strengthen the company’s asset management division.
Goldman said the acquisition, which is expected to close in the second quarter of 2026, will strengthen its ETF offerings in a rapidly growing sector of the investment world.
Outcome ETFs use contracts that include options to cushion downside risks or provide targeted gains over defined periods. Innovator had $28 billion in assets under 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 landscape,” David Solomon, CEO of Goldman, 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 asset and wealth management a priority since moving away from consumer banking, has closed a series of deals in the sector this year. In September, Goldman announced it would invest $1 billion in Price T. Roweand the following month, the bank announced that it had acquired venture capital investor Industry Ventures to strengthen its alternative investments platform.
Goldman said Monday that once the deal closes, Innovator’s more than 60 employees will join the bank’s asset management division.