The number of family offices investing in private markets has exploded, increasing 524% since 2016 to 4,067, exceeding growth in wealth management firms and endowments. This surge, fueled by increasing wealth among the ultra-rich, shows a 21% jump in 2023, 26% in 2024, and 8% in the first half of 2025. BlackRock and PwC attribute this to the significant growth in family office assets under management, reaching $3.1 trillion in 2024. Private credit and infrastructure are particularly popular investment areas.

Prepared by Christopher Adams and reviewed by editorial team.