This Monday, the global financial services firm, Goldman Sachs announced the purchase of Innovator Capital Management, an ETF provider for an agreement of approximately $2 billion dollars.
In this sense, David Solomon, CEO of Goldman, expressed in a press release that “with the acquisition of Innovator, “Goldman Sachs will expand access to modern, top-notch investment products”said.
According to Solomon, the agreement is expected to close by the second quarter of next year, which seeks to boost ETF offerings. “Active ETFs are dynamic, transformative and one of the fastest growing segments in the current public investment landscape”commented the CEO of Goldman Sachs.
Since leaving consumer banking, Goldman Sachs has been prioritizing asset and wealth management, in addition to a $1 billion investment in T. Rowe Price and also the acquisition of venture Industry Ventures to strengthen its alternative investment platform.
Therefore, the acquisition of Innovator is a good investment as it has more than $28 billion in assets under supervision in 159 ETFs and with this deal the more than 60 employees are expected to join the bank’s asset management division.
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