The $2 billion deal, announced Monday (Dec. 1), is designed to expand the exchange traded fund (ETF) lineup at Goldman’s asset management business.
Innovator, the banking giant noted in its announcement, was managing $28 billion in assets across 159 defined outcome ETFs as of Sept. 30.
“Active ETFs are dynamic, transformative, and have been one of the fastest-growing segments in today’s public investment landscape,” said David Solomon, Goldman CEO and chairman.
“By acquiring Innovator, Goldman Sachs will expand access to modern, world-class investment products for investor portfolios. Innovator’s reputation for innovation and leadership in defined outcome solutions complements our mission to enhance the client experience with sophisticated strategies that seek to deliver targeted, defined outcomes for investors.”
Bruce Bond, Innovator’s chief executive, called the…
