Family offices have been increasing their allocations to private credit

More than half of today’s family offices were incorporated after 2010

Family offices are impacting capital markets as private wealth grows. Compared to other financial entities, they have a relatively high allocation to alternatives.

Family offices are estimated to manage more assets globally than hedge funds

As baby boomers prepare to transfer more than $84T in assets to the next generation over the next 20 years, family offices’ impact is expanding.

It’s estimated there are 10,000 single-family and 5,000 multifamily offices globally

Family offices are expanding around the world at a rapid pace, impacting the wider financial landscape.

Family offices have a median of $476M in managed assets

There are several types of family offices that cater to ultra-high net worth individuals, starting with single-family offices that cost an average of $3.2M annually.

The average pay for family office executives has soared

As the number of family offices grows, they’re battling for top talent with traditional financial institutions by bulking up pay and incentive packages.

More than half of family offices have succession plans in place

The UBS annual report on family offices found that its clients are preparing for trade wars, generative AI, and generational wealth transfers.

The collapse of Archegos Capital Management drew scrutiny to family offices

Archegos, which managed the assets of Bill Hwang, wasn’t subject to the same oversight as traditional investment firms when it collapsed.

Family CEOs tend to prioritize a non-economic goal: keeping the business in the family

Companies led by family CEOs tend to prioritize corporate social responsibility, but they also tend to invest less in innovation and international growth. They also have more debt on average.

Pension funds' allocations to risky, alternative investments increased by 25% between 2001 and 2021

The portion of pension funds' risky investments, including alternative investments such as private equity, increased from 14% in 2001 to 39% in 2021. Analysts say private equity investments have delivered higher returns than traditional assets like stocks and bonds. Increased investment in private equity has also given pensions a way to recover from the 2008 financial crisis without necessarily investing more money.

Why private credit has faced challenges in recent years

The factors that some experts say are driving what could be private credit's most challenging era since the 2008 financial crisis include global economic uncertainty around trade and tariffs, investor fears about the amount of money being spent on artificial intelligence, and more.

Apollo Global Management and Blackstone are among the world's top 20 private credit fund managers

While Blackstone is the world's largest alternative asset manager, Apollo Global Management is a large private equity firm. Apollo had $480B in private credit assets under management as of January 2025.

Private credit is a nonbank loan made directly to a business

Similar to private equity, private credit is part of the private markets world. Both strategies offer illiquid, privately negotiated investments for privately held companies. Unlike private equity investors, however, private credit investors typically do not take ownership stakes in the companies they invest in.

Cheap debt and relatively minimal regulation fueled private equity's expansion

Low interest rates in the 2010s made taking on debt cheap, making leveraged buyouts incredibly lucrative. Private equity firms were able to make large deals quickly, in part because they don't face the same disclosure requirements and shareholder approval processes as public companies. These two factors juiced the growth of private funds.

Nearly half of billionaires plan to increase exposure to direct private equity investments in 2026

In a global survey administered by the Union Bank of Switzerland (UBS), 49% of billionaires plan to continue investing in companies by providing direct access to capital. However, only 37% of billionaires plan to increase their investments in private equity funds.

The funeral home industry is increasingly consolidating via private equity firms

A growing share of the funeral home industry is being acquired by private equity-backed firms. A 2022 article states that about 20% of this $23B business is owned by funeral home chains, and private equity-backed firms own about a quarter of those.

How Ivy Leagues are worth billions

Ivy League universities manage massive endowments to support their operations—but instead of simply spending donations, they invest them for long-term growth. Yale’s David Swensen helped reshape this approach in the 1980s by diversifying beyond stocks and bonds into private equity, hedge funds, and real estate.

Nonprofit VC funds invest in startups, but have donors instead of LPs

Examples include Andreessen Horowitz’s TxO (Talent x Opportunity) Initiative and Fifth Star Funds, which allows donors to write “Friends & Family” checks for Black tech founders.

The venture capital mindset is shaping the US into a 'portfolio state'

For decades, the US has operated as a low-regulation, private-sector-driven, globalized economy (also known as neoliberalism). In recent years, the Trump administration has taken direct stakes (rather than providing subsidies) in private companies with strategic products like semiconductors and rare earths. This paper argues the approach allows the US to capture the upside of growth.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Fewer middle-class students now attend private schools

Stanford professor Sean Reardon says there are two primary reasons behind this trend. The first is that many parochial schools, which tend to offer more affordable tuition, have closed. The second is that tuition for the remaining private schools has outpaced middle-class salaries.

Sovereign wealth funds in the Middle East and Asia surged after the 2008 financial crisis

As the stock market plummeted in 2008, SWFs with cash on hand were able to snap up critically undervalued assets that eventually posted large profits. The Government of Singapore Investment Corp. and Abu Dhabi Investment Authority invested $14.4B in Citigroup, resulting in a $1.6B profit for the GSIC when it sold half of the holdings in 2009.

Today’s Rockefellers have become climate activists

The Rockefeller Family Fund has been engaged in more than 40 lawsuits against ExxonMobil, a company that John D. Rockefeller’s Standard Oil created.

Some billionaires invest in extreme home upgrades for their estates

Car elevators, spas, movie theaters, bowling alleys, nightclubs and panic rooms are just some of the lavish upgrades the 1% builds in their homes.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

How couples today manage their finances

In relationships, shared bank accounts used to be the default. Not anymore. Many couples maintain separate finances for practical reasons or to retain greater independence, though many couples experience trust issues as a result. This article checks in on the status of relationship finances and highlights, among other insights, how attitudes toward money are often determined by family history.

Pop culture sometimes changes the way people invest

After the "Barbie" movie premiered, the number of investors in Barbie parent company Mattel's stock grew more than six times larger on the investment platform Public, according to the platform's recent report. Other cultural trends have affected which stocks investors choose as well.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Poison ivy will likely become both larger and more resilient due to climate change.

After 25 people used virtual reality headsets to practice flying with virtual wings—flapping their arms—their visual cortex responded to the wings almost as if they were real arms, treating them as body parts.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

Cultural norms about how to handle the bodies of loved ones in communities in West Africa have hampered Ebola responses.

Visualize how CRISPR-Cas9—a type of immune system used by single-celled organisms to attack invasive viruses—targets and makes precise changes to a gene's DNA.

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.