Goldman Sachs has continued the expansion of its asset management services by acquiring Innovator Capital Management, a US-based firm specialising in outcome-based ETFs, for approximately $2 billion.
The cash and equity transaction is expected to close in the second quarter of 2026, pending regulatory approval. The final purchase price will depend on the achievement of “certain performance targets”, states Goldman Sachs.
The acquisition will significantly expand Goldman Sachs Asset Management’s ETF offerings, with the two companies combined overseeing more than 215 ETF strategies globally, representing over $75 billion in total assets under supervision.
In 2018, Innovator introduced the world’s first defined outcome ETF. These ETFs employ derivatives and options-based strategies to achieve specific investment objectives within a certain performance period.
Innovator has grown to manage $28 billion in assets across 159 defined outcome ETFs since its founding in 2017.
Through the deal, members of Innovator’s leadership team, including co-founder and CEO Bruce Bond, co-founder and president John Southard, EVP and chief investment officer Graham Day, and SVP and head of distribution Trevor Terrell, will join Goldman Sachs Asset Management. Additionally, Innovator’s more than 60 employees are expected to integrate into Goldman Sachs’ Third-Party Wealth and ETF units.
The transaction comes hot on the heels of Goldman Sachs’ October agreement to acquire Industry Ventures, a California-based venture capital firm managing $7 billion in assets. That $965 million deal will see Industry Ventures join Goldman Sachs’ External Investing Group.
Source: https://www.fintechfutures.com/
