Ultrawealthy families are pouring billions into private credit and real estate, but cutting back on early-stage startups
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Ultrawealthy families are pouring billions into private credit and real estate, but cutting back on early-stage startups
"As of August, private markets accounted for 29% of the average family office portfolio in North America, according to the North America Family Office Report 2025. The report - produced by Campden Wealth, a London-based family office research firm, and RBC Wealth Management, the wealth management arm of the Royal Bank of Canada - was based on 317 survey responses from single- and multi- family offices worldwide. That included 141 in North America, all of which were collected between April and August."
"On average, the North American families surveyed held $2 billion in total wealth and managed $1.5 billion in assets. Based on the report's figures, that 29% share equates to roughly $62 billion of the $215 billion managed by North American family offices. And that share is still growing. "Future investment is likely to go toward direct private equity, private credit, and real estate," the report said, adding that private credit is attractive to wealthy investors because borrowers are paying higher interest rates."
Private markets account for 29% of average family office portfolios in North America as of August. On average, the North American families surveyed held $2 billion in total wealth and managed $1.5 billion in assets. That 29% share equates to roughly $62 billion of the $215 billion managed by North American family offices and continues to grow. Future investment is likely to target direct private equity, private credit, and real estate. Private credit attracts wealthy investors because borrowers are paying higher interest rates, and larger family offices often invest through funds or co-invest alongside private equity managers. Early-stage startup investing has declined as families prioritize stability.
Read at Business Insider
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