Goldman Sachs to Acquire NEOS in $2.25bn Active ETF Expansion

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25bn, adding $30bn across 19 options-based income ETFs to its asset management business. Combined with its recent Innovator acquisition, the deal will significantly expand Goldman’s presence in derivative-based income, buffer and outcome ETFs. The combined Goldman Sachs, Innovator and NEOS platform oversees more than $130bn in ETF assets, including $80bn in active ETFs, positioning it as the eighth-largest active ETF manager. NEOS co-founders Troy Cates and Garrett Paolella and the wider team are expected to join Goldman Sachs Asset Management when the deal closes, targeted for Q1 2027.