iCapital Advisors, LLC / iCapital
Great Gray selects iCapital for private-markets defined-contribution CIT work
Summary: Great Gray Trust Company announced that it selected iCapital as its preferred partner for private-markets manager evaluation, due diligence, and portfolio construction. The iCapital source says the relationship aims to develop purpose-built private-markets solutions for defined-contribution plans.
Why it matters: The update may matter to due-diligence readers as a source-attributed retirement-platform and private-markets access signal involving iCapital, while the announcement should not be read as 9AT validation of CIT suitability, plan adoption, diversification claims, participant outcomes, performance, demand, or investment merit.
Summary
Great Gray Trust Company announced on September 14, 2026, that it selected iCapital as its preferred partner for private-markets manager evaluation, due diligence, and portfolio construction. The iCapital source says the collaboration aims to develop purpose-built private-markets solutions for defined-contribution plans.
This draft treats the iCapital source-party release as the controlling source. The verifier cleared the item for drafting because the official page loaded directly, supported the Great Gray and iCapital identities, and no same-event local post or draft was found.
Why it matters
For due-diligence readers, the useful signal is a source-attributed platform relationship at the intersection of collective investment trusts, defined-contribution plans, and private-markets diligence infrastructure. A relationship that assigns iCapital manager-evaluation, due-diligence, portfolio-construction, and lifecycle-management roles can help readers track which public firms are positioning themselves around private-markets access in retirement-plan structures.
The signal is bounded. The source supports Great Gray’s selection of iCapital, the intended private-markets CIT work, and iCapital’s described role in manager evaluation, due diligence, portfolio construction, lifecycle management, and education for plan sponsors and advisors. It does not independently validate private-markets suitability for any plan, adoption by any plan sponsor, participant outcomes, diversification benefits, liquidity management results, fees, flows, future performance, demand, or investment merit.
Source notes
- iCapital official release: https://icapital.com/newsroom/press-releases/great-gray-trust-company-selects-icapital-to-expand-private-markets-solutions-for-defined-contribution-investing/
- SEC AdviserInfo profile for iCapital Advisors, LLC: https://adviserinfo.sec.gov/firm/summary/177513
- Source posture: primary/source-party iCapital release supports the core announcement and iCapital role. The Securities.io discovery item in the verifier handoff is secondary and is not needed as controlling support.
- Verifier posture: cleared for drafting with body-level support for Great Gray Trust Company, iCapital, private markets, manager evaluation, due diligence, portfolio construction, and defined-contribution plans. Local duplicate checks found no Great Gray / iCapital / defined-contribution same-event post or draft.
- Editorial caveat: the source includes sponsor/advisor education, diversification, implementation, fiduciary, and participant-outcome language. Keep those claims attributed to the announcement if used, and do not present them as 9AT conclusions.
9AT filing context
For identity and platform background only, public ADV/profile context reviewed by 9AT maps iCapital Advisors, LLC to CRD 177513, SEC file 801-106690, and about $130.7 billion in ADV-reported profile scale.
That context is broad adviser/platform identity background only. It does not prove the Great Gray relationship, identify any specific CIT investment manager, validate product design, establish plan adoption, assess fiduciary process, support private-markets suitability, predict liquidity or participant outcomes, show demand, imply customer acceptance, or support any recommendation about iCapital, Great Gray, collective investment trusts, defined-contribution plans, private markets, or any investment strategy.
No 13F or Form 5500 context is recommended for this item. Delayed public-equity holdings and employee-benefit-plan filings do not explain the announced CIT-development relationship, plan-sponsor decisions, participant outcomes, product suitability, liquidity management, future performance, or investment merit.
What to watch
Watch for future Great Gray, iCapital, regulator, plan-document, fund-document, or platform disclosures that clarify which CITs are launched, which private-markets managers are selected, how governance and fiduciary oversight are described, and what education or lifecycle-management capabilities are actually rolled out.
Future coverage should keep adoption, suitability, diversification, liquidity, fiduciary, participant-outcome, demand, performance, and investment-merit claims tied to fresh public sources rather than deriving conclusions from broad iCapital adviser identity context or from the announcement alone.