Family office surveys are telling two different stories — and both are true.
Goldman sees rising risk appetite; Citi flags caution. Allocations are largely steady year over year, with only modest shifts — for example, average venture capital exposure down about two percentage points vs. 2023. Reports converge on three constants: sustained interest in tech and AI, renewed attention to real estate after a tough cycle, and growing professionalization of teams.
The “one family office” adage holds. Divergent priorities reflect different mandates — from multi‑beneficiary distribution needs to concentrated founder risk — more than market confusion. In practice, portfolio changes are incremental, not wholesale rotations, even when headlines suggest otherwise.
Expect disciplined credit access (“war chests”) for opportunistic moves, selective private market pacing, and continued talent upgrades as complex fortunes seek institutional‑grade governance. Real estate re‑entry and wealth‑management tie‑ups (e.g., recent stakes in established advisers) signal appetite for durable, fee‑anchored cash flows amid valuation anxiety.
Which micro‑trend are you prioritizing in 2026 — incremental de‑risking, targeted AI exposure, or building flexible credit lines for secondaries and real‑asset dislocations?
Goldman sees rising risk appetite; Citi flags caution. Allocations are largely steady year over year, with only modest shifts — for example, average venture capital exposure down about two percentage points vs. 2023. Reports converge on three constants: sustained interest in tech and AI, renewed attention to real estate after a tough cycle, and growing professionalization of teams.
The “one family office” adage holds. Divergent priorities reflect different mandates — from multi‑beneficiary distribution needs to concentrated founder risk — more than market confusion. In practice, portfolio changes are incremental, not wholesale rotations, even when headlines suggest otherwise.
Expect disciplined credit access (“war chests”) for opportunistic moves, selective private market pacing, and continued talent upgrades as complex fortunes seek institutional‑grade governance. Real estate re‑entry and wealth‑management tie‑ups (e.g., recent stakes in established advisers) signal appetite for durable, fee‑anchored cash flows amid valuation anxiety.
Which micro‑trend are you prioritizing in 2026 — incremental de‑risking, targeted AI exposure, or building flexible credit lines for secondaries and real‑asset dislocations?