Goldman Sachs Buys Neos For $2.25B, Deepens ETF Push

Goldman Sachs is expanding its exchange-traded funds (ETF) business through a deal to acquire Neos Investments for up to $2.25 billion, deepening the bank's push into the fast-growing derivative income ETF market.

The acquisition follows Goldman's purchase of Innovator Capital Management last year for $2 billion and will see Neos' roughly $30 billion in assets join Goldman's existing lineup, totaling $130 billion once complete.

Neos specializes in systematic options-based income strategies, with its flagship funds including the S&P 500 High Income ETF (SPYI), the Nasdaq-100 High Income ETF (QQQI), and the Russell 2000 High Income ETF (IWMI).

The deal is expected to close in the first quarter of 2027, with Neos co-founders Troy Cates and Garrett Paolella joining Goldman Sachs Asset Management as partners upon completion.