Goldman Sachs to acquire NEOS Investments for $2.25 billion

Goldman Sachs announced on August 12, 2026, that it has agreed to acquire NEOS Investments for up to $2.25 billion in a cash-and-equity transaction, significantly expanding its exchange-traded fund platform with a suite of options-based income products. The deal, which is expected to close in the first quarter of 2027 pending regulatory approval, will add approximately $30 billion in assets and 19 ETFs to Goldman Sachs Asset Management.

The acquisition is the bank's second major ETF purchase in recent months, following its $2 billion deal for Innovator Capital Management completed in April 2026. Together, the transactions represent a strategic push into the fast-growing market for derivative-based investment strategies. Post-acquisition, Goldman Sachs projects its total ETF assets will reach roughly $130 billion, with about $80 billion held in actively managed ETFs. Based on data from June 30, this would position the firm as the eighth-largest active ETF provider.

NEOS, based in Westport, Connecticut, specializes in systematic options-based income ETFs that aim to generate regular distributions while managing downside risk. Its products cover strategies across stock indexes,...