Goldman Sachs pays up for downside protection
GS•Context from Goldman’s announcement
Goldman Sachs said on August 12 that it is acquiring ETF provider NEOS Investments for $2.25 billion. NEOS, which has $30 billion in assets under management, provides option-based income focused active ETFs.
Goldman buys NEOS to balance its business mix
The bank led by David Solomon is buying ETF provider NEOS for $2.3 billion to better balance steadier money management with more volatile deal fees. For now, investors reward the merger-advice edge. Bracing for an M&A slide makes sense, but looks pricey at 7.5% of assets.
