The move is intended to bolster the growth of the ETF business of Goldman Sachs Asset Management (GSAM).
The Goldman Sachs Group has closed the acquisition of Innovator Capital Management, LLC, known for its defined outcome exchange-traded funds (ETFs), a step that should bolster the growth of the ETF business of Goldman Sachs Asset Management (GSAM), officials say.
“By integrating Innovator’s approximately $31 billion in assets under supervision (AUS) across its suite of 171 ETFs focused on defined outcome strategies, Goldman Sachs Asset Management now manages approximately 240 ETFs globally. With total ETF AUS of $90 billion, Goldman Sachs Asset Management is a top ten global active ETF provider,” according to Goldman Sachs officials. “The acquisition adds Innovator’s specialized expertise in defined outcome ETFs, which use options-based strategies to support investors seeking income, targeted risk profiles, and growth opportunities.”
Bruce Bond, co-founder and CEO of Innovator, and John Southard, co-founder and president of the company, will join Goldman Sachs as advisory directors “to support the continued growth of the defined outcome suite,” according to the firm. “Graham Day, chief investment officer, and Trevor Terrell, head of distribution, are joining Goldman Sachs as partners.”
Innovator has more than 70 employees, and they will join Goldman Sachs, officials say. “The firm is retaining investment management and service providers for the existing Innovator ETF lineup to ensure a seamless transition for fund shareholders.”
GSAM offers investment and advisory services across public and private markets for institutions, financial advisors, and individuals. GSAM invests in fixed income, liquidity, equity, alternatives, and multi-asset solutions, and oversees approximately $3.6 trillion in assets under supervision as of December 31, 2025, officials say.
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