Goldman Sachs is reportedly in talks to acquire IndexIQ, a New York-based exchange-traded fund provider to expand its presence into the ETF universe.
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If completed, the acquisition will allow Goldman to launch passively managed and actively managed exchange traded funds within months, reported Reuters.
The acquisition is expected to be finalized within the next few weeks. The terms of the transaction have not been disclosed.
The publication said that the acquisition will provide Goldman Sachs access to an ETF issuer with 13 funds on the market and with $1.18bn in assets under management.
In September this year, Goldman has submitted an application to the U.S. Securities and Exchange Commission to introduce a series of actively managed ETFs.
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By GlobalDataIn July this year, Goldman Sachs has appointed Michael Crinieri, a senior executive from its trading division, to launch an ETF business within the investment bank.
The $870m IQ Hedge Multi-Strategy Tracker ETF marks as the firm’s first hedge-fund replication fund.
