It is always interesting to see how large family offices are constructing their portfolio. Goldman Sachs shed some light in their Family Office Report:
Large family offices continue to hold steady allocations to alternatives (44% of total portfolio vs 45% 2Y ago).
Alternative investments are dominated by Private Equity (Buyout 11%, Growth 8%, Venture Capital 7%), Private Real Estate & Infrastructure (9%), Hedge Funds (6%), and Private Credit (3%).
Large increase to fixed income part of the portfolio, mainly from cash positions (c. 39% of respondents plan to increase their allocation).
Family offices remain focused on secular growth themes.
Strategic allocation by NET change (i.e. increase minus decrease allocation): increase allocation in public markets (+38% of respondents), fixed income (+29%), private equity (+28%), private credit (+24%), compensated by decreasing cash positions.
Family offices still believe in Information Technology, Healthcare, and RE sectors.
Source: Goldman Sachs
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