Goldman Sachs Snaps Up Options Income ETF Firm NEOS for $2.25 Billion

Goldman Sachs has agreed to buy NEOS Investments, a Connecticut firm that runs options-based income ETFs, for up to $2.25 billion in a cash-and-equity deal. The acquisition deepens Goldman's push into one of asset management's fastest-growing corners and lands the firm among the ten largest managers of active ETFs.

NEOS Investments, founded in 2022, oversees about $30 billion spread across 19 ETFs that use options strategies to generate income. Once the purchase is finalized, Goldman Sachs Asset Management's ETF pile will hit about $130 billion, ranking the bank eighth among active ETF managers.

The final consideration for the deal will hinge on NEOS hitting certain performance and service targets. The transaction is pending regulatory approval and is expected to be completed in the first quarter of 2027.