Billionaire Family Offices Use Permanent Capital to Challenge Private Equity

Billionaire family offices permanent capital strategies are reshaping global dealmaking as wealthy families bypass traditional funds to invest directly across sectors including artificial intelligence, deep technology, data centres and healthcare.

Deloitte estimates billionaire family offices permanent capital totals about USD5.5tr, up 67% from five years ago, and could exceed USD9tr by 2030, potentially overtaking hedge funds.

The number of single-family offices has grown to more than 8,000 globally, with expansion spreading beyond billionaires to near-ultra-wealthy families and multi-family offices.