Key Takeaways
- • Constitution Capital Partners, a $7.8 billion alternative asset manager, appointed retirement industry veteran Rich Schainker as Managing Director to lead expansion into the defined contribution (DC) market, a traditionally underserved segment for private equity access.
- • The firm launched the Constitution Capital Horizon collective investment trust with over $50 million in initial assets, specifically designed to provide institutional-quality private equity exposure to defined contribution retirement plans rather than limiting such access to defined benefit plans and institutional portfolios.
- • Schainker brings 30+ years of retirement industry experience including previous senior roles at WTW, Bank of America Merrill Lynch, and Invesco, with expertise spanning investment strategy, fiduciary governance, plan design, and vendor management across the retirement ecosystem.
- • Constitution Capital manages approximately $7.8 billion across private equity and private credit strategies and has completed more than 280 middle-market equity investments, positioning it as a significant player in alternative assets for institutional deployment.
Summary
Constitution Capital Partners has bolstered its defined contribution platform by appointing Rich Schainker as Managing Director, signaling the alternative asset manager's strategic push to democratize private equity access beyond traditional institutional channels. The $7.8 billion firm is seeking to capitalize on an underserved market segment where retirement plan participants have historically had limited exposure to private equity investments concentrated in institutional and defined benefit plan portfolios.
The appointment follows the recent launch of the Constitution Capital Horizon collective investment trust, a vehicle purpose-built to deliver institutional-grade private equity exposure to defined contribution retirement plans. The Horizon fund launched with more than $50 million in seed capital and represents Constitution Capital's formal entry into the DC market—a significant expansion opportunity given the substantial assets managed across American retirement plans.
Schainker's extensive background positions him to navigate the complex regulatory and operational landscape surrounding retirement plan investments. His three-decade tenure spans investment strategy formulation, fiduciary governance frameworks, plan design optimization, and vendor management. Most recently, he served as Senior Director, DC Strategist & Investment Consultant at Willis Towers Watson (WTW), where he advised plan sponsors on governance structures, investment strategy, and fiduciary oversight. His earlier career included senior positions at Bank of America Merrill Lynch and Invesco, providing deep institutional investing experience. Schainker holds the Certified Investment Management Analyst (CIMA) and Certified Plan Fiduciary Advisor (CPFA) designations alongside FINRA Series 7, 63, and 66 registrations.
Constitution Capital's broader investment platform focuses on middle-market opportunities across private equity and private credit. The firm has completed more than 280 equity investments in North American middle-market companies and manages capital across partnership investments, equity co-investments, and opportunistic credit strategies. Schainker's mandate to expand DC capabilities leverages this operational track record while addressing a structural gap in retirement plan asset allocation—most defined contribution plans remain heavily weighted toward public equities and fixed income, with minimal private asset exposure.
The appointment follows the recent launch of the Constitution Capital Horizon collective investment trust, a vehicle purpose-built to deliver institutional-grade private equity exposure to defined contribution retirement plans. The Horizon fund launched with more than $50 million in seed capital and represents Constitution Capital's formal entry into the DC market—a significant expansion opportunity given the substantial assets managed across American retirement plans.
Schainker's extensive background positions him to navigate the complex regulatory and operational landscape surrounding retirement plan investments. His three-decade tenure spans investment strategy formulation, fiduciary governance frameworks, plan design optimization, and vendor management. Most recently, he served as Senior Director, DC Strategist & Investment Consultant at Willis Towers Watson (WTW), where he advised plan sponsors on governance structures, investment strategy, and fiduciary oversight. His earlier career included senior positions at Bank of America Merrill Lynch and Invesco, providing deep institutional investing experience. Schainker holds the Certified Investment Management Analyst (CIMA) and Certified Plan Fiduciary Advisor (CPFA) designations alongside FINRA Series 7, 63, and 66 registrations.
Constitution Capital's broader investment platform focuses on middle-market opportunities across private equity and private credit. The firm has completed more than 280 equity investments in North American middle-market companies and manages capital across partnership investments, equity co-investments, and opportunistic credit strategies. Schainker's mandate to expand DC capabilities leverages this operational track record while addressing a structural gap in retirement plan asset allocation—most defined contribution plans remain heavily weighted toward public equities and fixed income, with minimal private asset exposure.
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