Key points
- According to Fintrix, private ultra -rich investment companies made 375 direct investments in the first half of 2025, an annual drop of 32%.
- Family offices are still showing an interest in the hard workers necessary for AI, such as data centers, and are also looking abroad.
- Family Office experts have told CNBC that companies have capital that they must deploy but expect the clarity of prices and geopolitics.
A version of this article appeared for the first time in Inside Wealth Newsletter of CNBC with Robert Frank, a weekly guide to the investor and consumer with high shuttle. Register to receive future editions, directly in your reception box. Ultra rich investment companies are known for their patience, preferring to invest for decades or even generations. Family Office investors have also shown that they were ready to wait for the dust to be satisfied with President Donald Trump’s prices before concluding new offers. In the first six months of 2025, family offices made 375 direct investments in companies, a drop of 32% from one year to the next, according to data provided exclusively at CNBC by FINTRX. Investments have fallen into all sectors, including technology and health care and life sciences, the two most popular categories of agreements in 2024 and 2025, according to Fintrx, a private platform for wealth intelligence. According to Jonathan Jonathan Jonathan Flack, alone from 55 to 71 years old. Family offices, in particular those who are less comfortable with technological investment, adopt a choice approach and shovels by investing in the infrastructure around AI, he said. “They make investments in data centers and hard assets that will be necessary to support AI and AI growth,” said Flack. The investment of health care is somewhat resilient, between requests on the health system and the rise of biotechnological startups compatible with AI, he said. For example, he said, medical diagnostic startups have great potential given the expected reductions, because Trump’s law and Trump expenses should exert pressure on rural health care. In general, family offices have become more obvious about their venture capital investments, according to Vicki Odette, a lawyer who advises family offices, funds and institutional investors. The slowdown in the exit means that they have less capital to redeploy, she said. “I just see much more control,” said Odette, partner of Haynes Boone. “They really look for offers where they can really see, in the short term, much more a profitable path.” That said, its customers are not sitting away. Opportunistic family offices are showing an interest in secondary funds, which have increased in popularity while institutional investors are looking for liquidity, she said. The question of whether the conclusion of transactions will rebound by the end of the year is another question of patience. Flack said that he expects the offer to do not recover, but that he is slightly increasing in the second half of 2025. “I still see where there is a disproportionate percentage of non-exploited capital in families,” he said. “I think that when you reach the end of this year, they will want to conclude offers.” Odette said family offices would need more clarity on prices so that investments in American companies can resume significantly. However, she saw a recent change in family offices, even domestic, abroad, and she expects it to last. “Most of the agreements we see are really focused in Europe and abroad,” she said. “We see a lot of family offices building more cross-border unions, where they all talk to each other to search for new alpha sources that are outside the United States”