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The derivative income ETF category barely existed five years ago.
Goldman Sachs (NYSE: GS) is paying up to $2.25 billion to own part of it, agreeing to acquire NEOS Investments, a four-year-old issuer with $30 billion in assets across 19 options-based income funds.
The complication is the structure: the headline figure is a ceiling, subject to NEOS hitting performance and service commitments once the deal closes, which the firms expect in the first quarter of 2027.
What Goldman is buying NEOS was founded in 2022 by Garrett Paolella and Troy Cates.
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