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India's family offices rise to 300 in 2024: Report

India's family offices rise to 300 in 2024: Report

Time of India27-06-2025
Bengaluru: The number of family offices in India rose sharply to about 300 in 2024, from just 45 in 2018, reflecting a significant shift in how ultra-high-net-worth families manage their capital, an EY-Julius Baer study showed.
The Indian Family Office Playbook highlighted how these offices evolved from traditional roles of succession planning and wealth preservation into sophisticated institutions making active investments across sectors and borders. This shift coincides with a wave of liquidity events, from business listings to private equity exits, and a rise in families with net worth above $30 million, expected to reach 19,000 by 2028.
"As more families formalise their wealth structures, the role of the family office is expanding, from investment and governance to succession, sustainability and globalisation," the report stated. While traditional allocations to public equities and fixed income remain relevant, family offices are increasingly channelling capital into alternatives such as private equity, venture capital, private credit, REITs, and InvITs.
The trend is led by first-generation entrepreneurs and risk-tolerant families looking to diversify portfolios and capture long-term growth, the report added.
The growth of family offices is also reshaping succession planning, with families focusing more sharply on governance and formal structures. The report noted that formal succession policies, wills, and trusts are gaining prominence, helping families mitigate internal conflicts and enable seamless transfers across generations.
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"Family offices have become hubs for managing complexity, aligning financial, legal, and philanthropic interests across generations," the report stated. "With rising globalisation, digitalisation, and evolving regulations, their role will only deepen as India emerges as a critical node in the global investment landscape." The study also pointed to Gift City as an emerging base for global investments, allowing families access to international markets with favourable tax and operational benefits.
The trend towards structured, institutional approaches is expected to intensify as families evolve from entrepreneurs to multi-generational stewards of capital.
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