The acquisition is set to strengthen Goldman Sachs’ position in the growing active ETF and options-based investment market.
According to the latest reports, Goldman Sachs has decided to acquire NEOS Investments for up to $2.25 billion, marking another significant move by the financial group to expand its presence in actively managed exchange-traded funds (ETFs). The transaction combines cash and equity and remains subject to performance and service-related conditions.
NEOS Investments manages about $30 billion across 19 ETFs, with its products primarily using options-based strategies to generate income. These funds are designed around investment approaches that can provide regular income while seeking to manage exposure to market declines.
More on Goldman Sachs acquiring NEOS Investments.
The acquisition will add NEOS’s active income ETF business to Goldman Sachs Asset Management’s existing range of income and outcome-focused investment products. Following the transaction, Goldman Sachs expects its active ETF assets to reach approximately $80 billion, while its broader global ETF platform would total around $130 billion.
The development comes as demand for actively managed ETFs and options-based products continues to increase. Investors have shown growing interest in strategies that combine market exposure with income generation and risk-management features, particularly during periods of heightened market uncertainty.
The deal follows Goldman’s acquisition of Innovator.
The NEOS transaction is the latest in a series of moves by Goldman Sachs to expand its ETF business. Earlier in 2026, the company completed its approximately $2 billion acquisition of Innovator Capital Management, another specialist in options-based and defined-outcome ETFs.
Together, the acquisitions reflect a broader shift in the asset-management industry towards products offering alternative approaches to traditional stock and bond investments. The market for ETFs using derivatives and options has expanded rapidly as investors seek income and ways to manage downside exposure.
Goldman Sachs said the NEOS acquisition is expected to close in the first quarter of 2027, subject to regulatory approval and other customary closing conditions. NEOS co-founders Troy Cates and Garrett Paolella are expected to join Goldman Sachs Asset Management as partners after the transaction closes.
The deal highlights the increasing competition among major financial institutions to capture growth in the active ETF market. For Goldman Sachs, the acquisition provides access to a sizeable options-based ETF platform while further broadening its asset-management business beyond traditional investment products.
