Goldman Sachs Scoops Up Options-ETF Specialist NEOS for $2.3B

Goldman Sachs has announced its acquisition of NEOS Investments, an options-based income ETF specialist. The deal will see NEOS' $30 billion in assets added to Goldman Sachs Asset Management's ETF business.

The transaction is valued at up to $2.3 billion and is expected to close in the first quarter of 2027. NEOS co-founders Troy Cates and Garrett Paolella will join Goldman Sachs as partners, while the entire NEOS team is set to transition to the company.

Goldman Sachs' ETF operations are being bolstered by the deal, which brings together NEOS with Innovator from Goldman Sachs Asset Management. The combined business has over $130 billion in ETF assets and is on track to become the eighth-largest active ETF manager.