Goldman Sachs (GS) Moves to Expand Asset Management With $2 Billion Innovator Acquisition

The Goldman Sachs Group, Inc. (NYSE:GS) is included among the 14 Best US Stocks to Buy for Long Term.

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On December 1, The Goldman Sachs Group, Inc. (NYSE:GS) announced the acquisition of Innovator Capital Management, a defined outcome ETFs provider, for roughly $2 billion. The deal is a part of Goldman’s ongoing effort to scale up its asset management business. The acquisition is expected to finalize in the second quarter of 2026.

This step will strengthen The Goldman Sachs Group, Inc. (NYSE:GS)’ ETF options in a fast-growing part of the market. Defined-outcome ETFs utilize tools like options to limit potential losses and target specific gains over a set time. Innovator managed over $28 billion in assets across 159 ETFs as of September 30.

Goldman CEO David Solomon made the following comment in a news release announcing the deal:

“Active ETFs are dynamic, transformative, and one of the fastest-growing segments in today’s public investment landscape. By acquiring Innovator, Goldman Sachs will expand access to modern, world-class investment products.”

The rebound in the acquisitions activity at The Goldman Sachs Group, Inc. (NYSE:GS) reflects the leadership’s long-term goals to generate stable and recurring revenues and to break out of investment banking and trading. In October, the bank also acquired Industry Ventures for $1 billion and bought a stake in asset manager T. Rowe Price in September.

The Goldman Sachs Group, Inc. (NYSE:GS) is an American multinational investment bank and financial services company that offers a wide range of related products and services.

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Disclosure: None.