Goldman Sachs Strengthens ETF Portfolio With Acquisition Of Innovator Capital Management For $2 Billion

The acquisition of Innovator Capital Management will add $28 billion in assets under supervision to Goldman Sachs’ Asset Management portfolio.

• As of Sept. 30, 2025, Goldman and Innovator managed more than 215 ETF strategies, representing over $75 billion in assets
• Innovator’s senior leadership team, including CEO Bruce Bond and President John Southard, will join Goldman Sachs Asset Management.
• Retail sentiment on Stocktwits improved to ‘neutral’ from ‘bearish’ despite the intraday drop.

Goldman Sachs (GS) on Monday announced the acquisition of Innovator Capital Management for around $2 billion, with the deal expected to close in the second quarter of 2026, pending regulatory approval.

GS stock was down 1% in early trade on Monday.

Acquisition Rationale

The acquisition gives Goldman Sachs a strong foothold in a fast-growing section of the exchange-traded funds (ETF) market. Defined outcome ETFs, funds that use options to shape specific risk and return targets, have grown 66% annually since 2020, according to a Morning Star report.

Investors have sought these ETFs to curate portfolios with features such as downside protection, yield enhancement, and clearly defined return targets. With active ETF assets globally at $1.6 trillion, GS sees an opportunity to deepen its presence in a segment reshaping public-market investing, it said.

The acquisition will add $28 billion in assets under supervision (AUS) to Goldman Sachs Asset Management’s portfolio. As of Sept. 30, 2025, Goldman and Innovator managed more than 215 ETF strategies, representing over $75 billion in assets.

Innovator’s senior leadership team, including CEO Bruce Bond and President John Southard, will join Goldman Sachs Asset Management. Additionally, over 60 Innovator employees are expected to transition to Goldman Sachs Asset Management Third-Party Wealth and ETF teams. The business will operate fully under Goldman Sachs Asset Management.

How Did Stocktwits Users React?

While the stock saw an intraday decline, retail sentiment on Stocktwits improved to ‘neutral’ from ‘bearish’ a day earlier.

The stock has been on an uptrend lately, gaining in seven of the past eight sessions, including a five-session winning streak.

Year-to-date, the stock has seen strong buying interest, rising more than 40%.

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