The conviction is still there. What is changing is how that conviction shows up in portfolios.
Private markets remain a cornerstone of family office portfolios heading into 2026. Recent data and industry commentary point to a simple truth: family offices are not pulling back from private capital. In many cases, they are leaning in even further, with more intention around structure and portfolio design.
Private Markets Are a Long-Term Commitment
According to recent Institutional Investor family office research:
- 77% of family offices plan to increase or maintain private market allocations in 2026
- 37% expect higher returns from private markets over the next five years
- 34% already allocate more than 40% of their portfolios to private investments
These figures underscore what many allocators already know: private markets are not a tactical sleeve — they are a core component of long-term capital strategy.
From Allocation to Portfolio Design
As private market exposure grows, family offices are becoming more focused on how individual investments work together inside the portfolio. Rather than concentrating capital in isolated strategies, many are taking a more holistic approach that emphasizes balance across private asset classes, disciplined underwriting, and a clearer understanding of downside risk.
There is also greater attention being paid to pacing and liquidity, with the goal of ensuring capital remains flexible and resilient across market cycles. This reflects a broader shift away from simply selecting opportunities and toward intentionally designing private market exposure as part of an integrated portfolio.
Reallocating Within Private Markets
This evolution does not signal reduced appetite for private capital. Instead, it reflects a reallocation within private markets themselves.
Family offices are adjusting exposure across stages and structures, favoring areas with clearer operating visibility and greater flexibility while maintaining long-term growth orientation. Tools like secondaries and continuation vehicles have gained traction as ways to manage liquidity without stepping away from private markets altogether.
An Illustrative Example: CAPQ BDC
Within this broader context, some investment vehicles are structured to reflect how family offices allocate capital in practice, across multiple segments of the private markets rather than a single strategy.
CAPQ BDC is one illustrative example, providing exposure to private credit, private equity, and venture capital within a single vehicle. This type of structure aligns with broader family office trends toward integrated private market exposure, where growth, income, and risk considerations are viewed together rather than in isolation.
In 2026
Private markets remain firmly embedded in family office portfolios. What is changing is the expectation that these allocations be structured with greater discipline, clarity, and alignment with long-term objectives.
As family offices look ahead, the conversation is no longer about whether private markets belong in the portfolio. It is about how they are integrated in a way that supports durability, flexibility, and long-term stewardship across generations.
This material is for informational purposes only and does not constitute investment advice or an offer to sell or solicit any securities. References to CAPQ BDC are illustrative only. Any offering of CAPQ BDC securities is made solely through formal offering documents and is available only to accredited investors. Private market investments involve significant risks, including illiquidity and potential loss of principal. Forward-looking statements are subject to risks and uncertainties.