On December 1, 2025, Goldman Sachs Group announced its agreement to acquire Innovator Capital Management.
Goldman Sachs Group (“Goldman Sachs”) announced, on December 1, 2025, its agreement to acquire Innovator Capital Management (“Innovator”). It is expected that Innovator’s employees will join the Goldman Sachs Asset Management Third-Party Wealth and ETF teams. The transaction is expected to close in the second quarter of 2026 and is anticipated to total approximately $2.0 billion. Further terms of the deal were not disclosed.
Goldman Sachs (NYSE: GS), based in New York, is a registered investment advisor offering investment banking, asset management and wealth management services. As of September 30, 2025, Goldman Sachs oversaw approximately $3.5 trillion in assets under supervision. Goldman Sachs Global Banking and Markets served as financial advisor to Goldman Sachs on the transaction.
Innovator, based in Wheaton, Illinois, is a registered investment advisor specializing in defined outcome ETFs. As of September 30, 2025, Innovator had approximately $28 billion in assets under management. Oppenheimer & Co acted as financial advisor to Innovator on the transaction.
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