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Markets & Investing

Family Office Investment Insights Report: Eyes on the Horizon

A report from Goldman Sachs explores family office investment insights, leveraging the viewpoints of 166 distinct family office decision-makers globally.
A Goldman Sachs investment insights report cover titled "Eyes on the Horizon: Family Office Investment Insights." The cover features a sailing scene with a wooden sailboat cutting through deep blue ocean waves, its sail fully extended. The background showcases a distant mountainous horizon under a clear sky, conveying a sense of foresight and strategic vision. The report's title is placed in a blue rectangular box.

The macroeconomic and geopolitical backdrop has evolved dramatically over the last year. While capital markets have been challenged, family offices have remained calm and kept a steady hand on the wheel.

Report Highlights

In our second Goldman Sachs Family Office Investment Insights Report, Eyes on the Horizon, we explore how institutional family offices are allocating capital, leveraging the viewpoints of 166 distinct family office decision-makers globally.

Global map showing survey results with 166 respondents. Key percentages are visualized as circles: 57% from the Americas, 21% from Europe, the Middle East, and Africa (EMEA), and 22% from Asia-Pacific (APAC).
Data from the Goldman Sachs Family Office Investment Insights Report, Eyes on the Horizon

Strategic allocation

Our analysis shows family offices maintaining their overall strategic allocation. They have also held onto cash balances that have generated a higher yield, allowing them to opportunistically invest in the next 12 months.

Many noted they plan to increase their allocation to private credit, among other asset classes. We anticipate family offices will continue to tactically capitalize on dislocations that may be less accessible to investors bound by benchmarks, fixed mandates, exit timelines, and external capital.

Average Asset Allocation of Global Respondents in 2023
Bar chart illustrating portfolio allocation by percentage, including 28% Public Market Equities, 12% Cash & Cash Equivalents, 10% Fixed Income (Treasuries, Investment Grade, and High Yield), 26% Private Equity (Buyout, Growth, and Venture Capital), 9% Private Real Estate & Infrastructure, 6% Hedge Funds, 3% Private Credit, 1% Commodities, and 4% Other. Alternatives comprise 44% of the portfolio, with a note highlighting 'Other' categories such as art, cryptocurrency, real estate, annuities, and operating businesses. Total percentages may not add to 100% due to rounding.
Total percentages may not add up to 100% due to rounding. Data from the Goldman Sachs Family Office Investment Insights Report, Eyes on the Horizon

Across both public and private markets, family offices have a bias toward sectors experiencing strong secular growth and business models that can transcend economic cycles. Additionally, family offices continue to maintain significant interest in operating businesses as they explore ways to strategically grow and support their existing complexes.

To learn more about these trends and other top-of-mind topics, read our report, Eyes on the Horizon. You can also read the 2021 Report, Widening the Aperture.

Hear From Our Team

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