Neos currently oversees $30 billion in assets across 19 ETFs. The firm’s flagship S&P 500 high-income fund has posted a 19% return over the one-year period ending in June, drawing interest from investors seeking downside protection. Goldman CEO David Solomon noted that the acquisition aligns with the bank’s broader push into buffer and managed-outcome strategies.

This transaction follows the bank’s earlier purchase of Innovator Capital, reflecting a wider trend among Wall Street institutions to rely on asset management for stable revenue. By absorbing Neos, Goldman expects its total active ETF assets to reach $80 billion upon the deal's anticipated close in the first quarter of 2027. Neos co-founders Troy Cates and Garrett Paolella are slated to join the bank as partners following the integration. The asset and wealth management division remains a critical growth engine for Goldman, having reported a 20% year-over-year revenue increase in the second quarter.