Goldman Sachs buys Neos for $2.25B, targeting active ETF market growth

Goldman Sachs agreed to acquire Neos Investments for up to $2.25 billion. The cash-and-equity deal targets the fast-growing active ETF market.

Neos was founded in 2022. The firm currently manages approximately $30 billion in assets. Neos operates 19 ETFs that utilize options-based income strategies.

The acquisition will increase Goldman Sachs Asset Management’s total ETF assets to $130 billion. This move positions the firm as a top-eight active ETF provider.

Co-founders Troy Cates and Garrett Paolella will join Goldman Sachs as partners. The entire Neos team is expected to transition to the firm.

The transaction is scheduled to close in the first quarter of 2027. Completion remains subject to regulatory approvals.