Goldman Sachs acquires ETF firm for $2 billion in latest deal to bolster asset management division

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Goldmans Sachs

on Monday said it agreed to buy Innovator Capital Management, a provider of defined-outcome ETFs, for about $2 billion in its latest deal to bolster the firm’s asset management division.

Goldman said the acquisition, expected to close in the second quarter of 2026, will boost its ETF offerings in a fast-growing corner of the investing world.

Defined-outcome ETFs use contracts including options to buffer downside risks or offer targeted gains over set time periods. Innovator had $28 billion of assets under supervision across 159 ETFs as of Sept. 30.