Geopolitical risk leads family offices to alternatives: BlackRock

BlackRock has published its 2025 Global Family Office Survey, finding that geopolitical uncertainty topped the list of concerns for 84% of respondents and is reshaping asset allocation. Family offices are boosting alternative asset holdings to 42% of portfolios, up from 39% in 2022-23, with private credit and infrastructure earmarked for further increases. Overall sentiment turned negative for the first time since 2020 amid fears over trade disruptions and geopolitical fragmentation. Roughly one-third of family offices plan to raise private credit allocations and 30% to increase infrastructure exposure in 2025-26, the survey showed. Respondents also signalled growing interest in outsourcing expertise and, to a lesser extent, deploying artificial intelligence internally. The survey covered 175 single-family offices overseeing USD320bn in assets.