Goldman Sachs to Acquire NEOS Investments, Expanding Its Active ETF Platform

On August 12, Goldman Sachs Group Inc. announced an agreement to acquire NEOS Investments, a provider of systematic options-based income ETFs, for up to $2.25 billion in cash and equity. The transaction is slated to close in the first quarter of 2027, subject to regulatory approval and performance-based conditions.

Goldman Sachs Acquires NEOS Investments in $2.25 Billion Deal to Expand Active ETF Market Presence Goldman Sachs to buy ETF manager NEOS in $2.25bn deal Goldman Sachs to Add $30B in Assets Through NEOS Acquisition BankingDive

Active ETFs that overlay options have surged, with the global derivatives-income ETF category now holding roughly $180 billion in assets, growing at a compound annual rate of over 70 % since 2021. Wall Street firms are expanding asset-management divisions to capture this fee-rich revenue stream.

Goldman Sachs to Acquire NEOS Investments for Up to $2.25 Billion

• Purchase price: Up to $2.25 billion (cash-and-equity), with final consideration tied to service and performance targets.

Goldman Sachs Acquires NEOS Investments in $2.25 Billion Deal to Expand Active ETF Market Presence

• Closing timeline: First quarter of 2027, pending regulatory approvals.

Goldman Sachs Acquires NEOS Investments in $2.25 Billion Deal to Expand Active ETF Market Presence

• Integration: NEOS co-founders Troy Cates and Garrett Paolella will join Goldman Sachs Asset Management (GSAM) as partners; the broader NEOS team is expected to transition after closing.

Goldman Sachs To Buy NEOS in $2.25B Deal To Enter Bitcoin Income ETF Market

• NEOS assets: As of June 30 2026, NEOS oversaw $30 billion across 19 ETFs (some reports cite $32 billion).

Goldman Sachs Acquires NEOS Investments in $2.25 Billion Deal to Expand Active ETF Market Presence

• ETF composition: About 80 % of assets are in its two largest non-crypto funds—S&P 500 High Income (?$11.36 billion) and Nasdaq-100 High Income (?$13.87 billion). Crypto-linked products account for roughly 4 % of total assets.

Goldman Sachs to Acquire NEOS Investments for Up to $2.25 Billion

• Goldman’s ETF platform: Post-acquisition, Goldman’s combined ETF assets are projected to exceed $130 billion, with active-ETF holdings ranging from $80 billion (Reuters) to $130 billion (Bloomberg). This would place Goldman among the top eight active ETF managers globally, according to Morningstar.

Goldman Sachs to acquire Neos Investments for $...

• Revenue impact: Goldman’s asset-and-wealth-management unit reported $4.6 billion in net revenue for Q2 2026, a 20 % year-over-year increase.

The Globe and Mail (Toronto)

Marc Nachmann, head of Goldman’s money-management arm, highlighted NEOS’s rapid growth and expanding demand for active ETFs. NEOS co-founder Troy Cates described the deal as a partnership that combines NEOS’s entrepreneurial spirit with Goldman’s scale and expertise.

Bloomberg

• Asset totals: Sources differ on NEOS’s total assets—$30 billion versus $32 billion.

The Globe and Mail (Toronto)

• Post-deal active-ETF size: Reuters projects Goldman’s active-ETF assets will reach $80 billion, while Bloomberg suggests the combined platform will manage roughly $130 billion in total ETF assets.

Goldman Sachs to acquire Neos Investments for $...

• Closing date: All sources agree on a first-quarter 2027 close, but the exact month is not specified.

Goldman Sachs to Acquire Neos Investments for Up to $2.25 Billion in Active ETF Push — BigGo Finance

• “Neos has been on a tremendous growth trajectory,” — Marc Nachmann

Bloomberg

• “As investor demand for active ETFs grows, Neos' disciplined investment approach is highly complementary to our capabilities across buffer, managed outcome and income strategies,” — Goldman CEO David Solomon

Reuters

Goldman Sachs expects regulatory reviews to be completed before the end of Q1 2027. Upon closing, the firm will integrate NEOS’s product suite into GSAM and expand its options-based income offerings. Analysts note the combined platform’s scale could enable new product development, particularly in the crypto-linked income ETF segment.

Goldman Sachs to buy ETF manager NEOS in $2.25bn deal