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Goldman $2.25 Billion Neos Deal Raises Stakes in Active-ETF Race
Key Points
Goldman $2.25 Billion Neos Deal Raises Stakes in Active-ETF Race Goldman Sachs Group Inc.’s agreement to buy Neos Investments for as much as $2.25 billion marks a new front in Wall Street’s ETF battle: paying up for specialist firms that have found growth beyond the industry’s low-fee giants. The deal announced Wednesday is Goldman’s second major acquisition of a niche ETF manager in less than a year, following its roughly $2 billion purchase of Innovator Capital Management. Together, they...
Goldman $2.25 Billion Neos Deal Raises Stakes in Active-ETF Race
Goldman Sachs Group Inc.’s agreement to buy Neos Investments for as much as $2.25 billion marks a new front in Wall Street’s ETF battle: paying up for specialist firms that have found growth beyond the industry’s low-fee giants.
The deal announced Wednesday is Goldman’s second major acquisition of a niche ETF manager in less than a year, following its roughly $2 billion purchase of Innovator Capital Management. Together, they give Goldman a sizable position in options-based strategies that promise investors income, downside protection or other defined outcomes, a corner of the fund industry that has been growing at a speedy clip.