Family Offices Increase Exposure to Stocks and Private Equity Despite Inflation Concerns
A new Citi Wealth survey reveals that inflation has become the top investment concern for family offices in 2026, surpassing tariffs. Despite this worry, ultra-wealthy investors are increasing their allocations to growth assets like public equities, private equity, and direct investments over the next year. The annual survey of 351 firms found that 63% cited inflation as a primary concern, up from 37% in 2025. While fixed-income holdings remained stable with only minor shifts in allocation, public equities saw a net increase of 34%. Private equity and cash also attracted incremental capital. Looking ahead, nearly one-third plan to boost exposure to global developed markets, while about 10% intend to raise private equity allocations. Family offices were the most bearish on private credit, with a net 12% planning to reduce their holdings. Citi Wealth's Alexandre Monnier noted that family offices are adopting more active risk management strategies rather than retreating from investments during uncertain times. The survey also highlighted cautious optimism around commodities and real estate, though interest in these areas remains relatively low compared to other asset classes.
Topics: family offices inflation investment strategy private equity public equities