Goldman Sachs(US:GS) Zhi Tong Cai Jing·2025-12-02 07:04Core Viewpoint - Goldman Sachs is expanding in the rapidly growing asset management sector by acquiring Innovator Capital Management for approximately $2 billion in cash and stock, with the deal expected to close in the second quarter of 2026 [1] Group 1: Acquisition Details - The acquisition involves cash and stock valued at around $2 billion [1] - Key executives from Innovator, including co-founder and CEO Bruce Bond, will join Goldman Sachs Asset Management [1] - An additional 60 employees from Innovator are expected to integrate into Goldman Sachs' third-party wealth management and ETF teams [1] Group 2: Innovator's Performance - As of September 30, 2025, Innovator manages 159 outcome-oriented ETFs with an asset size of $28 billion, focusing on income, buffer, and growth strategies [1] - The shift towards active management has been driven by declining returns from passive index products due to tightening monetary policies [1] Group 3: Market Trends - The global active management ETF asset size has 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 vibrant and transformative segment, representing one of the fastest-growing areas in public investment today [2]