Goldman Sachs to acquire NEOS in $2.25B ETF deal

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion, adding about $30 billion in assets and 19 options-based income ETFs to its asset management business. Summary Goldman Sachs will pay up to $2.25 billion through a cash-and-equity transaction. NEOS managed about $30 billion across 19 ETFs as of June 30. The purchase will lift Goldman’s ETF platform above $130 billion in assets. NEOS co-founders will join Goldman Sachs Asset Management as partners after closing. Goldman Sachs sets first-quarter 2027 closing target Goldman Sachs said in an Aug. 12 announcement that the final payment will depend on performance and service commitments included in the acquisition agreement. The transaction is scheduled to close during the first quarter of 2027, subject to regulatory clearances and customary closing conditions. Structured as a mix of cash and equity, the deal will bring NEOS’ investment products, staff, and client relationships into Goldman Sachs Asset Management. The bank did not provide a breakdown of the cash and stock portions or identify the regulators that must approve the purchase. Based in Westport, Connecticut, NEOS has built a range of 19 systematic op...