SEI CITs Bring Carlyle’s Private Investments to Basic Capital

The retirement platform Basic Capital Group Inc. and global investment firm The Carlyle Group Inc. are bringing Carlyle’s private markets investment strategies, through certain products by SEI Investments Co., to 401(k) and other defined contribution plans. 

As part of the effort, SEI will create several collective investment trusts, trusteed by SEI Trust Co., offering exposure to Carlyle private markets strategies on Basic Capital’s open-architecture platform.  

The first product on Basic Capital’s platform will blend public equity and Carlyle’s private equity strategies and be designed to sit within a participant’s existing large-cap equity allocation. 

“We believe there is a meaningful opportunity to thoughtfully incorporate private markets into long-term retirement portfolios,” said Bill Ryan, head of retirement solutions at Carlyle, in a statement. “Basic Capital’s open-architecture platform provides an important avenue to bring these strategies into defined contribution plans, and we’re pleased to be working together to broaden the investment opportunities available to retirement savers.”  

Carlyle had $485 billion of assets under management as of June 30. It acquired a minority ownership interest in registered investment adviser Prime Capital Financial in August and a majority stake in RIA MAI Capital Management LLC in March. 

SEI reached a similar agreement with WTW Investments in August to develop private market funds available through CITs. 

The use of CITs as investment vehicles in 401(k) plans has grown significantly in recent years. By the end of 2025, CITs represented 54% of total target-date assets, having first surpassed mutual funds as the dominant vehicle in 2024, according to a Morningstar report published in March.