Goldman Sachs Acquires NEOS Investments for Up to $2.25 Billion
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Goldman Sachs Acquires NEOS Investments for Up to $2.25 Billion
- Goldman Sachs announced on August 12, 2026, its agreement to acquire NEOS Investments for up to $2.25 billion in cash and equity, targeting NEOS's $30 billion in high-yield, index-linked option ETFs.
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This acquisition, expected to close in the first quarter of 2027, will integrate NEOS’s 19 options-based income ETFs and its co-founders, Troy Cates and Garrett Paolella, into Goldman Sachs Asset Management.
Goldman Sachs has announced an agreement to acquire NEOS Investments for up to $2.25 billion in cash and equity. The deal, announced on August 12, 2026, aims to bolster Goldman Sachs Asset Management’s offerings in the rapidly growing market of derivative-based exchange-traded funds (ETFs). NEOS, established in 2022, specializes in systematic options-based income ETFs and has quickly grown to manage $30 billion in assets across 19 different funds as of June 30, 2026.
This acquisition is Goldman Sachs’s second multi-billion dollar ETF-related purchase within nine months, following its acquisition of Innovator Capital Management in December. The combined assets from these acquisitions, along with Goldman Sachs’s existing ETFs, will result in a total of over $130 billion in ETF assets under supervision, positioning Goldman Sachs as a top eight active ETF manager.
The transaction is expected to close in the first quarter of 2027, pending regulatory approval and other customary closing conditions. As part of the acquisition, NEOS co-founders Troy Cates and Garrett Paolella, along with the entire NEOS team, will join Goldman Sachs Asset Management as partners. The acquisition is seen as a strategic move to meet the increasing investor demand for active ETFs and sophisticated derivative-based solutions that offer attractive income and risk management in various market environments.