Key Takeaways
- • Great Gray Trust Company has selected iCapital as its preferred partner to develop a suite of asset-class-specific Collective Investment Trusts (CITs) spanning private equity, private credit, and private real assets for defined contribution retirement plans.
- • The partnership combines iCapital's private markets expertise, technology platform, and educational capabilities with Great Gray's CIT infrastructure to create professionally managed retirement solutions that expand diversification opportunities for plan sponsors and participants.
- • The collaboration addresses the evolving adoption of alternative investments in retirement plans by providing due diligence, portfolio construction, and governance frameworks designed to meet fiduciary standards required for defined contribution plans.
- • Rob Barnett, President and CEO of Great Gray Group, emphasized the shift in industry conversation from whether alternatives belong in retirement plans to how they can be implemented responsibly with improved investment choice and simplified adoption.
Summary
Great Gray Trust Company, a leading provider of Collective Investment Trusts and retirement solutions, announced a strategic partnership with iCapital to develop purpose-built private markets investment solutions for defined contribution retirement plans. The collaboration leverages iCapital's established position as a global fintech company specializing in alternative investments alongside Great Gray's expertise in CIT structuring and retirement plan administration.
The partnership will focus on creating asset-class-specific CITs across three primary alternative investment categories: private equity, private credit, and private real assets. By combining forces, the two firms aim to address a critical gap in retirement plan investing—providing institutional-quality access to diversified alternative asset classes while maintaining the governance, fiduciary standards, and simplicity required by defined contribution plans and their sponsors.
According to Rob Barnett, President and CEO of Great Gray Group, the industry conversation has fundamentally shifted. "The conversation has evolved from whether alternative investments should play a role in retirement plans to how they can be implemented responsibly to deliver greater investment choice, improved diversification, and simplified adoption within retirement portfolios," Barnett stated. The selection of iCapital was based on three core strengths: its extensive private markets expertise, market-leading technology infrastructure, and demonstrated commitment to education for plan sponsors and advisors.
The collaborative effort will encompass private markets manager evaluation, comprehensive due diligence processes, and professional portfolio construction capabilities. These functions are designed to reduce friction for plan sponsors seeking to expand retirement plan offerings while maintaining appropriate risk management and participant protection standards. The partnership underscores growing institutional demand for alternative investment access within tax-exempt retirement vehicles, positioning both firms to capture share in this expanding market segment.
The partnership will focus on creating asset-class-specific CITs across three primary alternative investment categories: private equity, private credit, and private real assets. By combining forces, the two firms aim to address a critical gap in retirement plan investing—providing institutional-quality access to diversified alternative asset classes while maintaining the governance, fiduciary standards, and simplicity required by defined contribution plans and their sponsors.
According to Rob Barnett, President and CEO of Great Gray Group, the industry conversation has fundamentally shifted. "The conversation has evolved from whether alternative investments should play a role in retirement plans to how they can be implemented responsibly to deliver greater investment choice, improved diversification, and simplified adoption within retirement portfolios," Barnett stated. The selection of iCapital was based on three core strengths: its extensive private markets expertise, market-leading technology infrastructure, and demonstrated commitment to education for plan sponsors and advisors.
The collaborative effort will encompass private markets manager evaluation, comprehensive due diligence processes, and professional portfolio construction capabilities. These functions are designed to reduce friction for plan sponsors seeking to expand retirement plan offerings while maintaining appropriate risk management and participant protection standards. The partnership underscores growing institutional demand for alternative investment access within tax-exempt retirement vehicles, positioning both firms to capture share in this expanding market segment.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.