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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.
While the rich of the world have become richer, their investment companies have doubled private assets such as direct loans and data centers.
The number of family offices with private markets has increased by 524% since 2016, from 651 to 4,067, according to Preqin data. This increase exceeds that of wealth management companies (410%) and allocations and foundations (81%) with private markets, according to the alternative investment data platform belonging to BlackRock.
This growth has been marked in recent years, increasing almost 21% in 2023 and approximately 26% in 2024. In the first half of 2025, the number of family offices with exposure to private markets increased by 8%.
Armando Senra, who directs the institutional activities of BlackRock in the Americas, said that the activity of the Family Office reflects a broader interest in private credit and investor infrastructure. A blackrock survey conducted last spring said that almost a third of the unifamilial offices planned to invest more in private credits and infrastructure from 2025 to 2026.
Jonathan Flack of PWC told CNBC by e-mail that a large part of this activity can be attributed to families who have much more wealth to manage. According to the estimate of Deloitte, family offices managed 3.1 dollars in 2024, up 63% compared to 2019.
Family offices need less rapid money so that they can afford to make unique private investments, Flack said. According to Flack, the private family markets known to invest for decades, even generations, the private markets call on their state of mind in the long term.
“Private markets allow families to invest in the longer term in a more stable growth environment compared to public procurement that turned out to be more volatile during the same period,” he said.
But family offices have become more and more selective on private offers. A mayor’s investigation by UBS revealed that family offices planned to increase their private debt assets, but reduced their investment capital in favor of market actions developed in 2025. For American family offices, the expected withdrawal was particularly high.
That said, when they asked them about their five-year plans, more family offices have been intended to increase rather than reducing their benefits to investment capital and other private assets.