Goldmans Sachs on Monday said it decided to buy Innovation Capital Management, a supplier of defined-outcome ETFs, for roughly $2 billion in its latest deal to enhance the firm’s asset management division. According to Goldman, the acquisition, anticipated in the second quarter of 2026, will expand its ETF offerings in a rapidly expanding segment of the investment industry.
Determined result ETFs use contracts including options to mitigate downside risks or give targeted returns over fixed time periods. Innovator has $28 billion of assets under supervision across 159 ETFs as of Sept. 30.
Active ETFs are dynamic, transformational, and one of the fastest-growing categories in today’s public investment landscape,” Goldman CEO David Solomon said in a press release announcing the deal. “By acquiring Innovation, Goldman Sachs will have greater access to modern, world-class investment products.”
Goldman Sachs, which has made asset and wealth management its top concern since moving away from a consumer banking drive, has completed a succession of transactions in the industry this year. In September, Goldman said it would spend $1 billion in T. Rowe Price , and the following month, the bank revealed it purchased venture capital investor Industry Ventures to enhance its alternative investments platform.
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