A recent report by With Intelligence reveals that more than 90% of single family offices (SFOs) allocate capital to private equity. The analysis covers 3,019 SFOs globally, with a combined US$4.67 trillion in assets as of January 2025.
The geographic distribution of these assets is led by North America (37%), especially the New York area. Other key regions include Southern Europe (10%), Switzerland (9%), Asia-Pacific (9%), the UK and surrounding jurisdictions (9%), German-speaking Europe (8%), Benelux (8%), and the Nordics (4%), with the remainder spread across the Middle East and Africa.
While many SFOs invest through private equity funds, a significant portion make direct investments—often bypassing external asset managers. These direct deals can account for up to half of their private equity exposure. On average, direct private equity, venture capital, and real estate investments make up about 10% of an SFO’s total assets, typically managed in-house.
