Experts say family offices now manage $6 trillion or more, and their ranks are growing.
The number of family offices in the world has tripled since 2019, setting off a new race among private equity firms, hedge funds and venture capital firms to attract their investments.
According to a new report from Preqin, the number of family offices — the private investing arms of wealthy families — topped 4,500 worldwide last year. North America has the largest share of family offices, with 1,682. More than half of all the family office assets in the world are in North America.
"The larger private equity managers are trying to compete there by putting in resources and time," said Rachel Dabora, research insights analyst at Preqin. "Ultra-high-net-worth investors and family offices are really on their radar."
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