Family Offices Increase Private Credit Allocations as PE Yields Slow

Global family offices are ramping up allocations to private credit in response to declining private equity (PE) yields, industry leaders said at the London Private Markets Meeting. Managing an estimated USD3.1tr in assets, family offices are attracted to the USD1.6tr private credit market, which offers regular cash flows and high single-digit returns. Unlike PE, private credit does not rely on exits, aligning with the long-term investment strategies of family offices. According to BlackRock’s 2025 Family Office Survey, a third of respondents plan to increase exposure to private credit despite concerns over market concentration in large deals.