Goldman Sachs to Acquire Options-Based ETF Provider NEOS for Up to $2.3 Billion

Goldman Sachs has agreed to acquire NEOS Investments, an actively managed ETF issuer specializing in options-based income strategies, in a cash-and-equity deal valued at up to $2.25 billion. The acquisition will add NEOS, which runs nearly two dozen options-based income ETFs, to Goldman Sachs Asset Management and is the latest move by the Wall Street firm to expand its footprint in the fast-growing active ETF market. Marc Nachmann, who oversees Goldman's asset management arm, said the deal will broaden the bank's ETF offerings.

The acquisition follows Goldman's earlier agreement to buy defined-outcome ETF provider Innovator Capital Management for roughly $2 billion, a deal that closed in April 2026, lifting Goldman's ETF assets to approximately $90 billion. The NEOS transaction builds on that momentum, deepening Goldman's reach into options-overlay and income-oriented ETF strategies that have attracted strong investor demand.