Get Quartz in your inbox

Free daily briefing on global business news.

Goldman Sachs is buying options-income ETF specialist NEOS in a $2.25 billion deal

The deal will push Goldman's total ETF assets to about $130 billion and make it a top-eight active ETF manager

Bloomberg / Getty Images

Goldman Sachs $GS announced an agreement to acquire NEOS Investments, a provider of options-based income exchange-traded funds, in a deal worth up to $2.25 billion in cash and equity, the company said on Wednesday.

Founded in 2022 and based in Westport, Connecticut, NEOS manages $30 billion in assets across 19 options-based income ETFs, according to Goldman Sachs. The acquisition will bring Goldman Sachs Asset Management's total ETF assets to approximately $130 billion and position it as a top-eight active ETF manager, the company........

© Quartz