Key Takeaways
- • A survey of 200 family office executives globally, collectively managing $68.26 billion in AuM, reveals aggressive shift toward alternative asset allocation over the next two years: 46% plan to increase private equity by 10–25%, while 64% intend to boost infrastructure exposure by 25–50%.
- • Infrastructure emerges as the standout alternative asset class preference among family offices, with nearly two-thirds planning substantial allocation increases, outpacing private equity appetite in the study period.
- • The shift toward alternatives is driven by structural market forces: shrinkage of listed companies since the 1990s, ultra-low interest rates post-2008 crushing equity yields, pandemic-era volatility, and the institutional maturation of private equity as an asset class.
- • Survey respondents span 13 jurisdictions including UK, UAE, Singapore, Switzerland, Hong Kong, and major financial centers, indicating this trend spans both mature and emerging family office markets globally.
- • Complementary studies from UBS and BNY Wealth confirm broader sector momentum, with two-thirds of family offices planning private equity allocation increases and approximately 30% targeting expanded private debt exposure.
Summary
Family offices worldwide are accelerating their reallocation toward alternative investments, according to a June 2025 survey by Ocorian and PureProfile covering 200 industry figures managing $68.26 billion in combined assets under management. The data reveals a pronounced shift in portfolio construction, with infrastructure assets commanding particular attention among wealth managers seeking yield and diversification beyond traditional public markets.
The survey findings are striking in their magnitude. Nearly two-thirds of respondents (64%) expect to increase infrastructure allocations by 25–50% within the next two years, establishing infrastructure as the primary alternative asset draw. Private equity follows with 46% of respondents planning increases of 10–25% over the same period. The study respondents represent a geographically diverse base spanning 13 jurisdictions: the UK, United Arab Emirates, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius, Bahrain, Bermuda, Cayman Islands, British Virgin Islands, and Jersey—capturing both established and emerging family office markets.
Simona Watkis, head of private client for Cayman at Ocorian, attributed the momentum to "a clear acceleration in the shift towards alternative investments across both mature and emerging family office markets." Industry experts point to several structural drivers underpinning this reallocation. The decades-long contraction in listed company populations since the 1990s has reduced traditional equity market opportunities. More critically, the extended period of ultra-low interest rates following the 2008 financial crisis compressed yields on public equities, eroding traditional fixed-income returns. Pandemic-related volatility, combined with the institutional maturation of private equity as an established asset class, has further reinforced alternative asset appeal among sophisticated investors seeking stable cash flows and inflation protection.
Parallel research from UBS and BNY Wealth substantiates this sector-wide trend, with approximately two-thirds of family offices indicating plans to increase private equity allocations, while roughly 30% are expanding exposure to private debt instruments. These findings collectively suggest a fundamental structural realignment in family office portfolio construction, with alternative assets transitioning from satellite holdings to core strategic positions within wealth management mandates.
The survey findings are striking in their magnitude. Nearly two-thirds of respondents (64%) expect to increase infrastructure allocations by 25–50% within the next two years, establishing infrastructure as the primary alternative asset draw. Private equity follows with 46% of respondents planning increases of 10–25% over the same period. The study respondents represent a geographically diverse base spanning 13 jurisdictions: the UK, United Arab Emirates, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius, Bahrain, Bermuda, Cayman Islands, British Virgin Islands, and Jersey—capturing both established and emerging family office markets.
Simona Watkis, head of private client for Cayman at Ocorian, attributed the momentum to "a clear acceleration in the shift towards alternative investments across both mature and emerging family office markets." Industry experts point to several structural drivers underpinning this reallocation. The decades-long contraction in listed company populations since the 1990s has reduced traditional equity market opportunities. More critically, the extended period of ultra-low interest rates following the 2008 financial crisis compressed yields on public equities, eroding traditional fixed-income returns. Pandemic-related volatility, combined with the institutional maturation of private equity as an established asset class, has further reinforced alternative asset appeal among sophisticated investors seeking stable cash flows and inflation protection.
Parallel research from UBS and BNY Wealth substantiates this sector-wide trend, with approximately two-thirds of family offices indicating plans to increase private equity allocations, while roughly 30% are expanding exposure to private debt instruments. These findings collectively suggest a fundamental structural realignment in family office portfolio construction, with alternative assets transitioning from satellite holdings to core strategic positions within wealth management mandates.
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