Great Gray Trust completed the acquisition of CIT fund sub-advisory business of flexPATH.

Great Gray Trust, a provider of collective investment trusts designed to enhance retirement planning, completed the acquisition of CIT fund sub-advisory business of flexPATH, an independent investment adviser specializing in target date funds, index selection, and retirement strategies. Financial terms were not disclosed. "This is the latest example of the investments we're making in our business to serve plan sponsors and participants. In keeping with our commitment to excellent service, we're bringing proven talent onto our existing teams while maintaining the continuity and quality that clients expect from the CITs previously sub-advised by flexPATH. Combined with our distribution reach across thousands of advisors and institutions nationwide, this positions us to deliver enhanced coverage and hands-on guidance at national scale," Rob Barnett, Great Gray Group President and CEO.