Goldman Sachs to buy Neos Investments for up to $2.25 billion to expand ETF business

Goldman Sachs has agreed to buy Neos Investments for as much as $2.25 billion in cash and equity, adding a fast-growing specialist in options-based income exchange-traded funds to its asset-management business. The deal is designed to strengthen Goldman’s position in actively managed ETFs, a rapidly expanding corner of the market that has attracted more competition and higher valuations. Neos manages about $30 billion to $32 billion in assets across nearly two dozen ETFs, and its co-founders are expected to join Goldman after the transaction closes, which is targeted for the first quarter of 2027.