Goldman Sachs is to buy ETF platform, NEOS Investments, in a deal worth up to $2.3bn.
Goldman Sachs is expanding its asset management operations, and the transaction would make it a top eight provider of active ETFs, with combined assets of $80bn.
Goldman Sachs CEO and chairman, David Solomon, said: “As investor demand for active ETFs grows, NEOS’ disciplined investment approach is highly complementary to our capabilities across buffer, managed outcome and income strategies. Together, we will give investors a diverse toolkit for different market environments.
“NEOS’ innovative ETF solutions and intuitive financial education programs have helped them build a strong market presence across a diverse investor base and this acquisition is an excellent strategic and cultural fit.”
Last year, Goldman Sachs signed an agreement to acquire Innovator Capital Management, a provider of defined outcome exchange-traded funds (ETFs), in a transaction worth around $2bn.
