Asian Family Offices Shift Towards Private Credit and Secondary Investments

Asian family office private credit allocations are attracting growing interest as wealthy families seek capital preservation, downside protection, and greater flexibility in private-market portfolios.

Tony Edwards, deputy CEO of Hong Kong-listed Sun Hung Kai & Co., said the firm was reallocating capital from private equity towards credit opportunities to improve portfolio stability.

Family offices are also targeting artificial intelligence infrastructure through private credit funds financing data centres and cloud computing companies.

Secondary investments are gaining attention as a means of accessing individual private-market assets while providing additional liquidity options.

According to UBS, Southeast Asian family offices allocated 4% of their portfolios to private debt in 2025, compared with 14% to direct private equity and 6% to private equity funds.

The research also found that 81% planned to adjust their strategic asset allocations during 2026, highlighting continued changes in how wealthy Asian families approach private-market investing.