Goldman Sachs Completes Acquisition of ETF Firm Innovator

Innovator Capital Management is a pioneer in defined-outcome ETFs, which use options to provide downside buffers and cap returns for investors seeking to manage market volatility. Goldman Sachs announced on December 1, 2025, that it would acquire the firm for about $2 billion in cash and stock, expanding its asset-management division's active ETF and risk-management offerings.

The transaction closed on April 1, 2026, and Goldman Sachs announced its completion on April 2. As of February 28, Innovator managed 171 ETFs with about $31 billion in assets, and more than 70 employees joined Goldman Sachs. Following the integration, the bank oversees about 240 ETFs globally, with ETF assets under supervision rising to $90 billion.