Constitution Capital Partners has appointed retirement industry veteran Rich Schainker as Managing Director as the approximately $7.8 billion alternative asset manager expands its defined contribution capabilities.
Schainker will focus on expanding Constitution Capital’s presence in the defined contribution market following the launch of the Constitution Capital Horizon collective investment trust.
Horizon is designed to bring institutional private equity exposure to defined contribution retirement plans, broadening access to an asset class traditionally concentrated in institutional portfolios and defined benefit plans.
The vehicle launched with more than $50 million in initial assets, according to Constitution Capital’s related announcement.
Schainker brings more than three decades of retirement industry experience across investment strategy, plan design, fiduciary governance and distribution.
Most recently, he served as Senior Director, DC Strategist & Investment Consultant in WTW’s retirement practice, where he advised plan sponsors across investment strategy, governance, plan design, vendor management and fiduciary oversight.
Earlier in his career, Schainker held senior retirement and investment positions at Bank of America Merrill Lynch and Invesco.
He holds the Certified Investment Management Analyst and Certified Plan Fiduciary Advisor designations as well as FINRA Series 7, 63 and 66 registrations.
Constitution Capital manages approximately $7.8 billion across private equity and private credit strategies and has completed more than 280 equity investments across the North American middle market.
Its strategies include partnership investments, equity co-investments and opportunistic credit investments.
Schainker’s addition gives the firm an executive with experience across multiple parts of the retirement ecosystem as it seeks to build adoption with plan sponsors, advisors and retirement-plan participants.
KEY QUOTES:
“We’ve spent years preparing for the opportunity to bring private equity into the DC market, and with Horizon now in the market, our focus is on reaching more retirement plans and participants.”
Daniel Cahill, CEO of Constitution Capital Partners
“Constitution Capital has built a strong institutional private equity platform and has been thoughtful about how it brings that experience to the defined contribution market.”
Rich Schainker, Managing Director at Constitution Capital Partners