Goldman Sachs to expand ETF offerings with acquisiton of US ETF provider NEOS investments in $2.25 billion deal

Top U.S. banking and investment firm, Goldman Sachs, has agreed a deal to purchase NEOS Investments, a Connecticut firm that runs options-based income ETFs, in a cash-and-equity deal worth up to $2.25 billion. The transaction, announced Wednesday, deepens Goldman Sachs’ push into one of asset management’s fastest-growing corners and lands the firm among the ten largest managers of active ETFs.

$30 billion book of income ETFs changes ownership

NEOS Investments, founded in 2022 and runs out of Westport, Connecticut, oversees about $30 billion spread across 19 ETFs that use options strategies to generate income, according to figures from Goldman Sachs. Once the purchase is finalised, Goldman Sachs Asset Management’s ETF pile will hit about $130 billion, ranking the bank at eighth among active ETF managers.

Goldman has said the final consideration will hinge on NEOS hitting certain performance and service targets, so the headline number is a maximum attainable amount instead of a guaranteed payout. The deal is pending regulatory approval, and the two firms expect to complete the deal in the first quarter of 2027.

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