Goldman Sachs Acquires NEOS in $2.25B Deal, Boosting Active ETF Assets

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion, adding about $30 billion in assets and 19 options-based income ETFs to its asset management business.

The purchase will lift Goldman's ETF platform above $130 billion in assets and make it the eighth-largest active ETF provider by assets as of June 30, according to Morningstar figures.

NEOS co-founders Troy Cates and Garrett Paolella will join Goldman Sachs Asset Management as partners after closing. The remaining NEOS investment, client service, and operating teams are also expected to join Goldman.