More than 25% of single-family offices plan to increase their private equity secondaries allocations, according to a JPMorgan Private Bank survey. The shift reflects growing appetite for liquidity solutions and discounted assets in today’s uncertain markets, with wealthy families seeking diversified exposure beyond traditional venture capital and buyout funds.

Family offices currently allocate 8-12% of their portfolios to alternatives on average, JPMorgan found. Secondaries transactions reached $114 billion in 2023 as institutional sellers sought exits. Unlike pension funds, family offices often use these deals to rebalance holdings rather than reduce overall private market exposure.

The trend signals deeper integration of secondaries strategies in wealth management. As family offices control an estimated $6 trillion globally, their increased participation could reshape pricing dynamics in the $140 billion secondaries market while creating new opportunities for specialized funds.