You can parent objects the same as you can in Unity (I see you’re a Unity user from another post).
Ctrl-G of course to parent selected to a dummy/null object (or a Target Point) would be good.
Edit: Just discovered you can’t parent objects to Target Points.
However Ctrl-G also already groups objects, but they remain loose in the Scene Outliner - so really we just need a way to collapse groups? (+/-)