$2B Buffer Deal
Goldman Sachs Asset Management plans to pay $2 billion to buy Innovator ETFs, the $28 billion buffer ETF shop co-founded by serial ETF entrepreneur Bruce Bond. The deal is expected to close by mid-2026, GSAM said. Rumors surfaced this fall that 8-year-old Innovator was on the block. Ignites' Joe Morris breaks down the deal.
The government is back open – but that doesn't mean regulators are operating at full capacity quite yet. It could take until early next year before the Securities and Exchange Commission is back at its pre-shutdown pace, a former top official said late last month. The commission's "use-it-or-lose-it" policy regarding vacation days will likely hamper productivity, she said. Another factor: more than 600 SEC employees have left the agency in the past year, many due to buyouts. Sabrina Kharrazi explains.
The SEC is also looking into widening access to private equity investments within closed-end funds, a commissioner indicated. In April, FS Investments received approval for expedited co-investment relief. However, the framework that FS – and 60 other firms that subsequently received permission – leaned on works only for private credit strategies, a lawyer told Ignites.
Join Us Today
Today, Dec. 2 at 11:30 a.m., Ignites will host "Cracking the Code: Bringing Alts to Retail Investors." Panelists from T. Rowe Price, Goldman Sachs Asset Management and Simpson Thacher will discuss the products being developed to increase retail investors' access to private markets, and address some of the compliance concerns and economic considerations. The 45-minute webcast will be moderated by Ignites Senior Reporter David Isenberg. Click here to register.
Inside the Funds
Dimensional Fund Advisors has laid out plans to tack ETF share classes onto 13 existing mutual funds. Those funds may have been selected because they are less prone to liquidity constraints, have a large number of holdings and have fewer complications than other products on the market, analysts told Ignites. Madison Hall looks under the funds' hoods.
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