David Solomon, chief government officer of Goldman Sachs.
Bloomberg | Bloomberg | Getty Photos
Goldmans Sachs on Monday mentioned it agreed to purchase Innovator Capital Administration, a supplier of defined-outcome ETFs, for about $2 billion in its newest deal to bolster the agency’s asset administration division.
Goldman mentioned the acquisition, anticipated to shut within the second quarter of 2026, will enhance its ETF choices in a fast-growing nook of the investing world.
Outlined-outcome ETFs use contracts together with choices to buffer draw back dangers or provide focused positive factors over set time durations. Innovator had $28 billion of belongings below supervision throughout 159 ETFs as of Sept. 30.
“Lively ETFs are dynamic, transformative, and one of many fastest-growing segments in as we speak’s public funding panorama,” Goldman CEO David Solomon mentioned in a information launch saying the deal. “By buying Innovator, Goldman Sachs will develop entry to fashionable, world-class funding merchandise.”
Goldman Sachs, which has made asset and wealth administration a precedence since pivoting away from a client banking push, has made a sequence of offers within the sector this yr. In September, Goldman mentioned it will make investments $1 billion in T. Rowe Worth, and the next month, the financial institution mentioned it acquired enterprise capital investor Trade Ventures to bolster its various investments platform.
Goldman mentioned Monday as soon as the deal closes, Innovator’s 60-plus workers will be a part of the financial institution’s asset administration division.