Core Viewpoint - Goldman Sachs has agreed to acquire Innovator Capital Management for approximately $2 billion, aiming to enhance its offerings in the rapidly growing ETF market [1][3]. Group 1: Acquisition Details - The acquisition is set to close in the second quarter of 2026 and will integrate Innovator into Goldman Sachs' asset management division, which manages client investments [3]. - Innovator Capital Management manages $28 billion in assets across 159 ETFs as of September 30 [3][10]. - The deal will bring key executives from Innovator, including co-founders Bruce Bond and John Southard, into Goldman Sachs Asset Management [10][11]. Group 2: Market Context - ETFs are investment funds that trade on stock exchanges, typically holding a basket of assets like stocks or bonds [4][6]. - Innovator specializes in "defined-outcome" ETFs, which use options to provide protection against market declines and target specific returns [4][10]. - The popularity of ETFs is surging due to their low costs and ease of trading, making them a key focus for investment firms [8]. Group 3: Strategic Focus - The acquisition aligns with Goldman Sachs' strategy to bolster its asset and wealth management business, especially after shifting focus away from consumer banking [7]. - In September, Goldman invested $1 billion in T. Rowe Price and previously acquired Industry Ventures to enhance its alternative investment offerings [7][8]. - The asset management segment reported $12.7 billion in revenue for 2024, indicating significant growth amid challenges in other divisions [12].

Core Viewpoint - Goldman Sachs is acquiring Innovator Capital Management for approximately $2 billion to enhance its presence in the rapidly growing active exchange-traded fund (ETF) market [1][9]. Group 1: Acquisition Details - The acquisition will be a cash-and-stock deal valued at around $2 billion [1]. - The transaction is anticipated to close in the second quarter of 2026 [9]. - Innovator Capital Management manages $28 billion in assets across 159 defined outcome ETFs as of September 30, 2025 [8]. Group 2: Market Context - Active ETFs have seen a resurgence as investors prefer a more hands-on investment approach due to lower returns from passive index products amid tighter monetary policies [1]. - Global assets in actively managed ETFs have reached $1.6 trillion, growing at a compound annual growth rate of 47% since 2020 [2]. - Goldman Sachs CEO David Solomon highlighted that active ETFs are a dynamic and transformative segment in the public investment landscape [4]. Group 3: Personnel Changes - Innovator's co-founder and CEO Bruce Bond, along with other key executives, will join Goldman Sachs Asset Management following the acquisition [8]. - An additional 60 employees from Innovator are expected to integrate into Goldman Sachs Asset Management's Third-Party Wealth and ETF teams [8].

Core Insights - Goldman Sachs has announced the acquisition of Innovator Capital Management, adding $28 billion in assets under supervision (AUS) through 159 defined outcome ETFs as of September 2025 [1][5] - The acquisition aims to enhance Goldman Sachs' active ETF offerings amid increasing interest in active management strategies [1][2] - Defined outcome ETFs have shown significant growth, with a 66% compound annual growth rate (CAGR) since 2020, contributing to the overall active ETF market growth of 47% CAGR [3] Company Strategy - Bryon Lake, chief transformation officer at Goldman Sachs Asset Management, emphasized the early stage of innovation in the defined outcome space and the growth opportunities it presents [2] - The addition of Innovator's product range is expected to be a key catalyst for Goldman Sachs, particularly in appealing to advisors focused on risk mitigation for clients [2][5] - The acquisition positions Goldman Sachs among the top ten active ETF managers globally, managing over 215 ETF strategies and more than $75 billion in global AUS [5] Market Trends - The global active ETF market has reached approximately $1.6 trillion in assets under management (AUM) [3] - Defined outcome ETFs, such as the Innovator U.S. Equity Power Buffer ETF – January (PJAN), utilize derivatives and options-based strategies to provide downside protection and enhanced yields for investors [4]

The bank is buying Innovator Capital Management, which specializes in ETFs that protect investors from market downturns. ...

Core Insights - Houlihan Lokey announced that Scott Adelson and Anthony Martino will present at Goldman Sachs' U.S. Financial Services Conference on December 9, 2025 [1] Company Information - The presentation will feature key insights from Houlihan Lokey's leadership, indicating the company's active engagement in the financial services sector [1] Industry Context - The participation in Goldman Sachs' conference highlights the importance of financial services events for networking and showcasing expertise within the industry [1]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. (Bloomberg) -- Goldman Sachs Group Inc. will pay $2 billion to buy Innovator Capital Management, a deal that combines the bank with an issuer of a relatively new type of exchange-traded fund that has caught the attention and ire of some on Wall Street. Wheaton, Illinois-based Innovator — which has over $28 billion of assets under supervision across more than 150 ETFs — specializes in defined-out ...

Core Viewpoint - Goldman Sachs Group Inc. is acquiring Innovator Capital Management for $2 billion, aiming to enhance its position in the defined-outcome ETF market, which has gained popularity among financial advisers and investors seeking to mitigate downside risk while capping upside potential [1][2]. Group 1: Acquisition Details - The acquisition will combine Goldman Sachs with Innovator, which manages over $28 billion across more than 150 ETFs, specializing in defined-outcome ETFs [1][2]. - The deal is expected to close in the second quarter of 2026, pending regulatory approvals [7]. Group 2: Market Context - Defined-outcome ETFs, also known as "buffer funds," have seen increased interest as investors look for safer alternatives amid market volatility, with approximately $11.4 billion invested in structured outcome products this year, including $4.1 billion in Innovator's offerings [4]. - The structured outcome ETF category has grown from under $60 billion at the end of 2024 to roughly $76 billion currently [5]. Group 3: Strategic Implications - Following the acquisition, Goldman Sachs Asset Management's assets under management in ETFs will increase from $51 billion to $79 billion, positioning the firm among the top 10 largest active issuers [6]. - Innovator's team of over 60 employees will join Goldman's wealth and ETF teams, enhancing the firm's capabilities in this growing market [7].

Core Viewpoint - Goldman Sachs has reached an agreement to acquire Innovator Capital Management, a pioneer in fixed income ETFs, for approximately $2 billion in a cash and equity combination, subject to performance milestones [1] Group 1: Acquisition Details - The acquisition involves a total consideration of about $2 billion, structured as a combination of cash and equity [1] - The transaction is expected to be completed in the second quarter of 2026, pending regulatory approval and customary closing conditions [1] Group 2: Innovator Capital Management Overview - As of September 30, 2025, Innovator manages $28 billion in assets under management across 159 fixed income ETFs [1]

Core Viewpoint - Goldman Sachs has agreed to acquire Innovator Capital Management for approximately $2 billion to enhance its asset management division and expand its ETF offerings in a rapidly growing market [1][2]. Group 1: Acquisition Details - The acquisition is expected to close in the second quarter of 2026 [1]. - Innovator Capital Management manages $28 billion in assets across 159 ETFs as of September 30 [2]. - Innovator's 60-plus employees will join Goldman Sachs' asset management division post-acquisition [3]. Group 2: Strategic Importance - Defined-outcome ETFs utilize contracts, including options, to mitigate downside risks or provide targeted gains over specific time periods [2]. - Goldman Sachs aims to enhance access to modern investment products through this acquisition, as stated by CEO David Solomon [2]. - The acquisition aligns with Goldman Sachs' strategy to prioritize asset and wealth management, following a shift away from consumer banking [2].

格隆汇12月1日丨高盛集团股份有限公司今天宣布，已达成协议，收购InnovatorCapitalManagement （Innovator），Innovator是固定结果交易所交易基金的先驱。截至2025年9月30日，Innovator管理着159 只固定收益ETF中的280亿美元AUS，有能力在收入、目标缓冲和增长战略方面为客户带来成果。该交 易将显著扩大高盛资产管理公司的ETF阵容和未来产品路线图，并增强该公司在增长最快的活跃ETF类 别之一的产品。 ...