The number of family offices investing in private assets like direct lending and data centers has surged by 524% since 2016, reaching 4,067, according to Preqin data. BlackRock’s alternative investment platform reports that family office activity in private markets rose by nearly 21% in 2023 and 26% in 2024, with an 8% increase in the first half of 2025.

A BlackRock survey found that nearly a third of single-family offices plan to invest more in private credit and infrastructure from 2025 to 2026. Family offices are managing a combined $3.1 trillion in assets, up 63% from 2019, allowing them to make long-term illiquid investments in private markets.

Family offices are favoring private debt over private equity in 2025, according to a UBS survey. However, more family offices plan to increase their allocations to private equity and other private assets over the next five years. Private markets offer stability and long-term growth potential compared to public markets, appealing to family offices.

Read more at CNBC: Family offices turn to private markets, allocations up 500% since 2016