Asia-Pacific’s family offices are maturing and scaling fast, diversifying broadly, and leaning heavily into private markets. What was once a niche domain of hyper-affluent families is now a rapidly expanding investment class reshaping how capital is allocated in the region.

According to UK-based financial data group Preqin’s latest report, Family Offices in APAC 2025, the number of family offices in the region has grown sixfold since 2019. Today, one in four of the world’s family offices is based in Asia-Pacific, a significant rise from 17% to 22% of the global share.

Serving as hubs of jurisdictional stability, regulatory clarity, and a growing ecosystem of fund managers and service providers, Singapore and Hong Kong are at the forefront of this trend. Australia and India trail closely behind, while Malaysia and Thailand are rolling out family-office-friendly initiatives, indicating a broadening and deepening of regional participation.

The report notes that the number of family offices in APAC actively investing in alternatives such as private equity, real estate, and private debt has surged by 378%, outpacing the 255% global growth in the same period.

This evolution is not just about numbers, however; it also reflects structural change. At the heart of the movement is an ongoing US$5.8 trillion intergenerational wealth transfer expected by 2030, propelling a younger generation to the forefront.

Pressure to scale

These next-gen stewards are now allocating capital with a markedly higher risk appetite, longer time horizon, and a clear preference for alternatives.

Private equity and real estate remain the dominant allocations. However, private debt has emerged as the fastest-growing asset class, with family office participation in this category rising 556% since 2019. The appetite for infrastructure assets is also rising, particularly among those seeking steady yields in a high-interest-rate environment.

Preqin says what is now shifting beneath the surface is strategic nuance. In private equity, secondaries are gaining traction amid challenging exit conditions. Within venture capital, early-stage remains dominant, but interest in venture debt has cooled. In private debt, direct lending is now the standout strategy, overtaking distressed and special situations.

Yet, this rapid growth hasn’t come without friction. Over half of global family offices report gaps in private market analytic capabilities, an issue more acute in APAC, where offices often have leaner teams and less institutional infrastructure. From deal sourcing to performance benchmarking, the pressure to scale operational sophistication is rising fast.

For wealth managers and fund sponsors, there is a dual opportunity: meet these investors with smarter, more transparent tools, and build solutions that go beyond returns to address legacy and impact with a clear intergenerational purpose.