Key Takeaways
- • A global survey of 200 family office professionals overseeing $68.26 billion in assets under management reveals aggressive reallocation toward alternative investments, with infrastructure emerging as the standout asset class of choice.
- • 64% of family offices plan to increase infrastructure allocations by 25-50% over the next two years, significantly outpacing private equity expansion plans (46% expect 10-25% increases).
- • The shift toward alternatives is driven by structural factors including decades-long shrinkage in listed company populations, the post-2008 era of ultra-low interest rates that compressed equity yields, and pandemic-era volatility that eroded confidence in traditional markets.
- • Survey respondents span 13 global financial centers—UK, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius, Bahrain, Bermuda, Cayman Islands, British Virgin Islands, and Jersey—indicating the trend is not regionally isolated.
- • Supporting data from UBS and BNY Wealth surveys confirm the broader pattern, with two-thirds of family offices planning increased private equity allocation and approximately 30% targeting higher private debt exposure.
Summary
Family offices globally are executing a substantial portfolio reorientation toward alternative assets, according to research conducted by Ocorian in collaboration with PureProfile in June 2025. The survey polled 200 industry professionals collectively managing $68.26 billion in assets and found systematic intent to increase exposure across multiple alternative asset classes over a two-year horizon.
Infrastructure investments are commanding disproportionate attention within this alternative shift. Nearly two-thirds of respondents (64%) indicated plans to boost infrastructure allocations by 25-50% in the next two years—a materially higher commitment level than private equity, where 46% expect increases of 10-25%. This infrastructure preference reflects broader confidence in yield-generating, long-duration assets that offer structural returns independent of equity market cycles.
The underlying drivers of this allocation shift are structural rather than cyclical. A multi-decade contraction in the number of publicly listed companies, compounded by the extended period of ultra-low interest rates following the 2008 financial crisis, has systematically reduced yield opportunities in traditional equity and fixed-income markets. Pre- and post-pandemic volatility has further catalyzed family office demand for alternative investments that operate outside public market dynamics. As Simona Watkis, head of private client for Cayman at Ocorian, noted: "We're seeing a clear acceleration in the shift towards alternative investments across both mature and emerging family office markets."
The geographic breadth of the survey—spanning established wealth centers including London, Singapore, Hong Kong, and the Cayman Islands, alongside growth markets such as the UAE and Saudi Arabia—indicates this is not a localized trend but rather a systemic recalibration across the global family office sector. Supporting data from institutional wealth managers UBS and BNY Wealth independently validate the pattern, with surveys showing approximately two-thirds of family offices intend to increase private equity allocations, while roughly 30% plan higher exposure to private debt instruments. Collectively, these figures suggest family offices are fundamentally reweighting their portfolios away from traditional public markets toward less liquid but potentially higher-yielding alternative vehicles.
Infrastructure investments are commanding disproportionate attention within this alternative shift. Nearly two-thirds of respondents (64%) indicated plans to boost infrastructure allocations by 25-50% in the next two years—a materially higher commitment level than private equity, where 46% expect increases of 10-25%. This infrastructure preference reflects broader confidence in yield-generating, long-duration assets that offer structural returns independent of equity market cycles.
The underlying drivers of this allocation shift are structural rather than cyclical. A multi-decade contraction in the number of publicly listed companies, compounded by the extended period of ultra-low interest rates following the 2008 financial crisis, has systematically reduced yield opportunities in traditional equity and fixed-income markets. Pre- and post-pandemic volatility has further catalyzed family office demand for alternative investments that operate outside public market dynamics. As Simona Watkis, head of private client for Cayman at Ocorian, noted: "We're seeing a clear acceleration in the shift towards alternative investments across both mature and emerging family office markets."
The geographic breadth of the survey—spanning established wealth centers including London, Singapore, Hong Kong, and the Cayman Islands, alongside growth markets such as the UAE and Saudi Arabia—indicates this is not a localized trend but rather a systemic recalibration across the global family office sector. Supporting data from institutional wealth managers UBS and BNY Wealth independently validate the pattern, with surveys showing approximately two-thirds of family offices intend to increase private equity allocations, while roughly 30% plan higher exposure to private debt instruments. Collectively, these figures suggest family offices are fundamentally reweighting their portfolios away from traditional public markets toward less liquid but potentially higher-yielding alternative vehicles.
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