26% of Family Offices Plan to Add Private Equity as 46% Raised Public Equity Exposure, a Survey of 351 Finds
In a survey of 351 family offices, 26% plan to add private equity next year while 46% already raised public equity. Europe, Middle East and Africa offices are keener than North America.
A 2026 global survey of 351 family offices in more than 40 countries, run in June and July, shows where this group of family office investors is placing new money. Public markets are drawing more capital than private ones for now: 46% of respondents raised their public equity exposure over the past year and 12% reduced it. Looking ahead, 37% plan to increase global developed equities against 5% planning cuts. Private equity is a smaller but still meaningful intention, with 26% planning to raise exposure over the next year, both to direct deals and to funds.
What the numbers show
Returns have helped. About 89% of family offices reported positive year-to-date returns, up from 84% in 2025, and about 41% target annual returns of 7% to 10%. That is a modest target, which suggests that the typical family office is more interested in compounding steadily than chasing outsized private equity returns. Inflation is the top concern for 64% of respondents, almost two thirds, ahead of interest rates at 44%, stability of the global financial system at 38% and the Middle East conflict at 32%. Tariffs, last year's top worry, are now named by 18%.
Within private equity, growth equity leads family office interest, followed by venture capital, secondaries and then buyouts. Regional differences are sharp. Some 43% of offices in Europe, the Middle East and Africa plan to raise private equity, against 30% in North America. For the Middle East specifically, more than half of respondents have no current or planned exposure, and 3% plan to raise it.
What it means for GPs
Two readings stand out. First, only about one in four family offices plan to add private equity, so the other three in four are not about to write new cheques for it. A manager's pitch must therefore be targeted at the minority with real intent, rather than the whole group. Our look at how to spot family office liquidity events shows how to find the ones with capital to place.
Second, the preference for growth equity, venture and secondaries over buyouts suggests that managers in those areas have the stronger case. Buyout managers should lead with realised results and a clear reason why a family office should choose them over simply holding public equity. For terms that suit this investor type, see our fee, lock-up and co-investment playbook for wealthy investors.
What to watch next
Watch whether the 26% who plan to increase private equity convert that intention into commitments in the final months of 2026, and whether the North American and European gap persists. Our guide to LP allocation trends in 2026 tracks the wider picture. FundLinx members can see which family offices are allocating to your strategy.
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