Manulife John Hancock Retirement and Great Gray to Launch Lifetime Blend+ Target-Date CITs with Private Markets Exposure to Help Improve Long-Term Retirement Outcomes
BOSTON – Manulife John Hancock Retirement today announced a collaboration with Great Gray Trust Company, LLC (Great Gray) to offer (subject to approval) Lifetime Blend+, a proposed new suite of target-date collective investment trusts (CITs) designed to help defined contribution plan participants prepare for longer retirements. Lifetime Blend+ is designed to combine public markets and stable value with private equity, private credit, private infrastructure, and private real estate to provide differentiated sources of growth, income, diversification, and inflation resilience throughout the accumulation and decumulation phases.
“Improving participant outcomes has always been at the center of our retirement strategy,” said Wayne Park, CEO, Manulife John Hancock Retirement. “As life expectancy increases and retirement becomes a longer and more complex phase of life, participants need investment solutions built not only to reach retirement, but to help sustain them through it. Lifetime Blend+ builds on our established target-date framework by integrating private-market exposures in a thoughtful and disciplined way to help participants prepare for longer retirements.”
Manulife John Hancock is working with Great Gray for the trust and administration for Lifetime Blend+. Great Gray is expected to serve as trustee for Lifetime Blend+, providing the trust structure, fiduciary oversight, and the operational infrastructure required to hold private-market exposures inside a daily-valued, participant-directed vehicle. Lifetime Blend+ is expected to allocate up to 20% to private markets, with the balance to Manulife John Hancock-affiliated collective investment trusts and stable value products. The open-architecture portfolio design uses Manulife Investment Management’s in-house real estate team as well as its credit capabilities delivered through Manulife | CQS Investment Management and Manulife | Comvest Credit Partners. The portfolio’s private markets allocation is intended to include exposure to an equity solution managed by Apollo Global Management; infrastructure managed by J.P. Morgan Asset Management and StepStone Group; and real estate managed by Townsend, resulting in diversified private-markets exposure within a professionally managed target-date solution.
“Manulife John Hancock has made a serious, firm-wide commitment to opening private markets to retirement savers, and we are pleased to be a part of it,” said Rob Barnett, President and CEO of Great Gray Group, parent company of Great Gray, one of the largest independent CIT trustees in the United States. “Private assets have to sit inside a vehicle that values daily, trades on recordkeeping platforms, and meets fiduciary standards. This collaboration will allow participants and plan sponsors to maintain the familiar experience of selecting a target-date fund with even broader access to diversified investment capabilities.”
At the center of the solution is Manulife Investment Management’s Lifetime Through Glidepath developed by its Multi-Asset Solutions Team (MAST). The strategy is built to help participants navigate both the risk of outliving their savings and the risk of falling short of their retirement goals, while preserving growth and income potential. MAST's modeling evaluates the potential role of private-market investments within Lifetime Blend+ as part of the strategy's broader long-term investment approach.
“Lifetime Blend+ represents a significant development in our offering, bringing together our capabilities across retirement, multi-asset investing, stable value, and private markets with the expertise of external partners designed to help clients pursue their long-term retirement objectives,” added David Cohen, Head of U.S. Retirement Investment Product, Manulife John Hancock Investments.
Expanding access to private markets within retirement plans requires a strong commitment to investor education. To support informed decision-making, the firm provides educational resources to help explain how professionally managed solutions such as Lifetime Blend+ incorporate private assets within a broader retirement framework. Find more information here.
About Manulife John Hancock Retirement
Manulife John Hancock Retirement is the U.S. retirement business of Manulife Investment Management. For more than 50 years, John Hancock has helped people plan and invest for retirement; today, we’re one of the largest full-service providers in the United States.1 We take a hands-on consultative approach based on the idea that no two plans—and no two plan participants—are exactly alike. We partner with plan sponsors, advisors, and third-party administrators to ensure that every plan is personal to the participant and delivers proven results.2 As of Sept 30, 2026, Manulife John Hancock Retirement serviced over 56,000 retirement plans with over 3.3 million participants3 and over $278 billion in AUMA.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management’s mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Our strength comes from the diversity of our global asset management expertise and distribution capabilities. Our global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. We provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of our approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how we build long term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
About Great Gray Trust Company
Great Gray Trust Company, LLC is a leading provider of collective investment trust solutions for retirement plans, with $371.8 billion in fund assets as of June 30, 2026. Great Gray is committed to innovation and growth in the retirement planning sector, delivering solutions that offer efficiency, value, and growth opportunities to retirement professionals and their clients. As part of Great Gray Group, the company serves thousands of retirement plans nationwide.
For more information, visit: https://greatgray.com.
About Great Gray Group
Great Gray Group, LLC is the parent company to Great Gray Trust Company, LLC and Retirement Plan Advisory Group, LLC, creating a comprehensive retirement platform built on fiduciary excellence and advisor enablement. With a distribution reach across thousands of advisors and institutions, Great Gray Group delivers retirement solutions on a national scale.
The Fund can only be purchased by tax-qualified retirement plans, and cannot be purchased directly by individuals.
1 "PLANSPONSOR 2026 Defined Contribution Recordkeeping Survey© 2026 Asset International, Inc.,” PLANSPONSOR, 2026. 2 "PLANSPONSOR 2026 Defined Contribution Recordkeeping Survey© 2026 Asset International, Inc.,” PLANSPONSOR, 2026. 3 Participant Counts reflect all active participants with a balance.
Disclosures
Disclosures
Important information
The Lifetime Blend+ portfolio is currently in development and subject to final approvals; availability and final portfolio composition are expected to be confirmed prior to launch.
Collective investment trusts are available only to eligible qualified retirement plans and are not mutual funds. Private-market investments involve risks that differ from, and may be greater than, those associated with public-market investments, including limited liquidity, valuation complexity, higher fees, and reduced availability of information. Diversification and asset allocation do not guarantee a profit or protect against loss. Target-date strategies do not guarantee sufficient retirement income, and the principal value of an investment is not guaranteed at any time, including at or after the target date. There is no assurance that modeled outcomes will be realized.
As proposed, Great Gray Trust Company, LLC will serve as Trustee for these bank collective investment funds (“Funds”) and will maintain ultimate fiduciary authority over the management of, and investments made in, the Funds. The Funds are not mutual funds as the Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively.
Investments in the Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Funds.
John Hancock Distributors LLC, member FINRA and SIPC provides securities and marketing support services to certain retirement plans and is affiliated with John Hancock Retirement Plan Services LLC, John Hancock Life Insurance Company (U.S.A.) (not licensed in NY), Boston, MA, John Hancock Life Insurance Company of New York, Valhalla, NY, which provides retirement plan products and services. Certain recordkeeping services may be provided by a Third Party Provider.
Manulife, Manulife Retirement, Stylized M Design, and Manulife Retirement & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license, including John Hancock Life Insurance Company of New York.
Manulife John Hancock is not affiliated with Great Gray, Apollo Global Management, J.P. Morgan Asset Management, StepStone Group, nor Townsend and none is responsible for the liabilities of the others. Their inclusion here is not, in any manner, an endorsement of their products or services.
NOT FDIC INSURED. MAY LOSE VALUE. NOT BANK GUARANTEED.
© 2026 Manulife John Hancock. All rights reserved.
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