"Rapid Growth: The Family Office Gold Rush on Wall Street"

The number of family offices worldwide has tripled since 2019, with North America leading the count. These offices, managing over $6 trillion, are attracting attention from private equity firms and alternative managers seeking to raise funds. Despite recent disappointments in venture capital and private equity returns, family offices remain optimistic about the future and are increasingly seeking higher returns through alternative investments. This trend has prompted firms like Blackstone to aggressively target the family office market, recognizing it as a substantial and growing opportunity.