Goldman Sachs Doubles Down on Active ETFs with $2.25B Neos Deal

Goldman Sachs has acquired NEOS Investments in a deal worth up to $2.25 billion, expanding its ETF business and solidifying its position as an active player in the market.

The acquisition adds roughly $30 billion in assets under management, bringing Goldman Sachs' total ETF assets to around $130 billion.

NEOS co-founders Garrett Paolella and Troy Cates will join Goldman Sachs Asset Management as Partners following the deal's completion.

This is not Goldman's first foray into ETFs; it acquired Innovator Capital Management in April 2026 for approximately $2 billion, bringing in around $31 billion in assets and 171 defined-outcome ETFs.

The surge in derivative income products can be attributed to investor demand for yield without locking up capital in traditional bonds or chasing risky credit. Options-based strategies offer a middle path, using put and call selling to generate premium income while maintaining equity exposure.