diff --git a/Sources/SignalProducer.swift b/Sources/SignalProducer.swift
index 0a09a4183..249fa39c3 100644
--- a/Sources/SignalProducer.swift
+++ b/Sources/SignalProducer.swift
@@ -1929,6 +1929,59 @@ extension SignalProducerProtocol {
 			}
 		}
 	}
+	
+	/// Creates a new `SignalProducer` that will bucket each received value into
+	/// a group based on the key returned from `grouping`. 
+	///
+	/// Termination events on the original signal are also forwarded to each
+	/// producer group.
+	///
+	/// - parameters:
+	///   - grouping: a closure that determines the grouping key for a given value
+	///
+	/// - returns: A producer of producers that emits one producer for each group and forwards
+	///            each value from the original producer to the inner producer corresponding 
+	///            to the group to which the value belongs to (as determined by the key)
+	public func group<Key: Hashable>(by grouping: @escaping (Value) -> Key) -> SignalProducer<(Key, SignalProducer<Value, Error>), Error> {
+		return SignalProducer { observer, disposable in
+			let groups = Atomic<[Key: Signal<Value, Error>.Observer]>([:])
+			
+			disposable += self.start { event in
+				switch event {
+				case let .value(value):
+					let key = grouping(value)
+					let group: Signal<Value, Error>.Observer = groups.modify { groups in
+						if let group = groups[key] {
+							return group
+						} else {
+							let (signal, innerObserver) = Signal<Value, Error>.pipe()
+							let producer = SignalProducer(signal).replayLazily(upTo: Int.max)
+							
+							// Start the buffering immediately.
+							producer.start().dispose()
+							observer.send(value: (key, producer))
+							
+							groups[key] = innerObserver
+							return innerObserver
+						}
+					}
+					group.send(value: value)
+					
+				case let .failed(error):
+					observer.send(error: error)
+					groups.value.values.forEach { $0.send(error: error) }
+					
+				case .completed:
+					observer.sendCompleted()
+					groups.value.values.forEach { $0.sendCompleted() }
+					
+				case .interrupted:
+					observer.sendInterrupted()
+					groups.value.values.forEach { $0.sendInterrupted() }
+				}
+			}
+		}
+	}
 }
 
 extension SignalProducerProtocol where Value == Bool {
diff --git a/Tests/ReactiveSwiftTests/SignalProducerLiftingSpec.swift b/Tests/ReactiveSwiftTests/SignalProducerLiftingSpec.swift
index 8a721afaf..bee10b0f7 100644
--- a/Tests/ReactiveSwiftTests/SignalProducerLiftingSpec.swift
+++ b/Tests/ReactiveSwiftTests/SignalProducerLiftingSpec.swift
@@ -1926,5 +1926,193 @@ class SignalProducerLiftingSpec: QuickSpec {
 				expect(latestValues?.1) == 2
 			}
 		}
+		
+		describe("groupBy") {
+			it("should group events by their key") {
+				let (signal, observer) = Signal<Int, NoError>.pipe()
+				let producer = SignalProducer<Int, NoError>(signal)
+				var evens: [Int] = []
+				var odds: [Int] = []
+				let disposable = producer
+					.group { $0 % 2 == 0 }
+					.startWithValues { key, group in
+						if key {
+							group.startWithValues { evens.append($0)}
+						} else {
+							group.startWithValues { odds.append($0)}
+						}
+					}
+				
+				observer.send(value: 1)
+				expect(evens) == []
+				expect(odds) == [1]
+				
+				observer.send(value: 2)
+				expect(evens) == [2]
+				expect(odds) == [1]
+				
+				observer.send(value: 3)
+				expect(evens) == [2]
+				expect(odds) == [1, 3]
+				
+				disposable.dispose()
+				
+				observer.send(value: 4)
+				expect(evens) == [2]
+				expect(odds) == [1, 3]
+			}
+			
+			it("should terminate correctly on disposal") {
+				let (signal, observer) = Signal<Int, NoError>.pipe()
+				let producer = SignalProducer<Int, NoError>(signal)
+				var completed = false
+				var interrupted = false
+				var evensInterrupted = false
+				var oddsInterrupted = false
+				
+				let disposable = producer
+					.group { $0 % 2 == 0 }
+					.start { event in
+						switch event {
+						case let .value(key, group):
+							if key {
+								group.startWithInterrupted { evensInterrupted = true }
+							} else {
+								group.startWithInterrupted { oddsInterrupted = true }
+							}
+						case .completed:
+							completed = true
+						case .interrupted:
+							interrupted = true
+						case .failed:
+							break
+						}
+					}
+				
+				observer.send(value: 1)
+				observer.send(value: 2)
+				
+				disposable.dispose()
+				
+				expect(completed) == false
+				expect(interrupted) == true
+				expect(evensInterrupted) == true
+				expect(oddsInterrupted) == true
+			}
+		}
+		
+		it("should terminate correctly when receiving an interrupted event") {
+			let (signal, observer) = Signal<Int, NoError>.pipe()
+			let producer = SignalProducer<Int, NoError>(signal)
+			var completed = false
+			var interrupted = false
+			var evensInterrupted = false
+			var oddsInterrupted = false
+			
+			producer
+				.group { $0 % 2 == 0 }
+				.start { event in
+					switch event {
+					case let .value(key, group):
+						if key {
+							group.startWithInterrupted { evensInterrupted = true }
+						} else {
+							group.startWithInterrupted { oddsInterrupted = true }
+						}
+					case .completed:
+						completed = true
+					case .interrupted:
+						interrupted = true
+					case .failed:
+						break
+					}
+				}
+			
+			observer.send(value: 1)
+			observer.send(value: 2)
+			observer.sendInterrupted()
+			
+			expect(completed) == false
+			expect(interrupted) == true
+			expect(evensInterrupted) == true
+			expect(oddsInterrupted) == true
+		}
+		
+		it("should terminate correctly receiving a completed event") {
+			let (signal, observer) = Signal<Int, NoError>.pipe()
+			let producer = SignalProducer<Int, NoError>(signal)
+			var completed = false
+			var interrupted = false
+			var evenCompleted = false
+			var oddCompleted = false
+			
+			producer
+				.group { $0 % 2 == 0 }
+				.start { event in
+					switch event {
+					case let .value(key, group):
+						if key {
+							group.startWithCompleted { evenCompleted = true }
+						} else {
+							group.startWithCompleted { oddCompleted = true }
+						}
+					case .completed:
+						completed = true
+					case .interrupted:
+						interrupted = true
+					case .failed:
+						break
+					}
+				}
+			
+			observer.send(value: 1)
+			observer.send(value: 2)
+			observer.sendCompleted()
+			
+			expect(completed) == true
+			expect(interrupted) == false
+			expect(evenCompleted) == true
+			expect(oddCompleted) == true
+		}
+		
+		it("should terminate correctly receiving a failed event") {
+			let (signal, observer) = Signal<Int, TestError>.pipe()
+			let producer = SignalProducer<Int, TestError>(signal)
+			var interrupted = false
+			var completed = false
+			var error: TestError? = nil
+			var evensError: TestError? = nil
+			var oddsError: TestError? = nil
+			
+			producer
+				.group { $0 % 2 == 0 }
+				.start { event in
+					switch event {
+					case let .value(key, group):
+						if key {
+							group.startWithFailed { evensError = $0 }
+						} else {
+							group.startWithFailed { oddsError = $0 }
+						}
+					case .completed:
+						completed = true
+					case .interrupted:
+						interrupted = true
+					case let .failed(e):
+						error = e
+					}
+				}
+			
+			observer.send(value: 1)
+			observer.send(value: 2)
+			
+			observer.send(error: .error1)
+			
+			expect(interrupted) == false
+			expect(completed) == false
+			expect(error) == .error1
+			expect(evensError) == .error1
+			expect(oddsError) == .error1
+		}
 	}
 }