Goldman Sachs to Pay $2B for ETF Issuer Innovator Capital

Published on December 1, 2025

Innovator specializes in defined-outcome ETFs, which seek to limit investors’ downside risk in exchange for capping upside potential, and have been popular among financial advisors looking to protect client portfolios.

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Goldman Sachs to Pay $2 Billion for ETF Issuer Innovator Capital

December 1, 2025
Goldman Sachs Group Inc. will pay $2 billion to buy Innovator Capital Management, a deal that combines the bank with an issuer of a relatively new type of exchange-traded fund that has caught the attention and ire of some on Wall Street.