Goldman Sachs Group Inc (NYSE:GS). is actively exploring strategic options for its ETF Accelerator platform, which may include a potential sale, according to reports from Bloomberg and Reuters.
The platform, distinct from the Goldman Sachs Asset Management's ETF division, is designed to support the bank's institutional clients in launching their own exchange-traded funds.
A source close to the situation, who prefers to remain anonymous, revealed on Friday that the investment banking giant is considering the future of this service. The ETF Accelerator platform is a relatively new addition to Goldman Sachs' offerings, having been introduced in October 2023 to help clients start ETFs without the significant initial costs of establishing an in-house ETF operation. It also provides ongoing services post-launch, such as portfolio management, servicing, and distribution assistance.
Since its inception, the platform has facilitated the launch of 10 ETFs, including four funds from GMO and the Atlas (NYSE:ATCO) America Fund, overseen by economist Nouriel Roubini.
Nick Carcaterra, a spokesperson for Goldman Sachs, confirmed the bank's deliberations. "We are assessing what the best long-term option is for the ETF Accelerator platform for Goldman Sachs and our clients," Carcaterra stated. He also emphasized that no definitive decisions have been made regarding the platform's future, adding, "No decision has been made, and there are no imminent plans for a change. If we have an update to share, we will do so."
The Goldman Sachs Asset Management division independently manages nearly $40 billion across its more than 40 funds, separate from the ETF Accelerator platform. The consideration of strategic alternatives indicates Goldman Sachs' ongoing evaluation of its business units to align with its long-term goals and the interests of its clients.
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