By Shanu Sherwani

Full Article, AGEFILuxembourg, May 2025 Edition

Summary:

Family offices are stepping into a bold new role within global capital markets. Traditionally viewed as conservative and passive capital allocators, they are now becoming dynamic, strategic actors in private equity—shaping the investment landscape as direct investors and long-term partners.

In this article, Shanu Sherwani, Partner at Antwort Capital, explores how family offices are moving beyond the confines of private bankers and fund-of-fund models to establish themselves as sophisticated, independent investors. Many are building internal teams, developing direct sourcing capabilities, and forming meaningful partnerships with private equity sponsors.

Key insights include:

• Why family offices are increasingly attracted to private equity’s long-term, value-driven structure

• The growing preference for direct and co-investing over traditional fund commitments

• How private equity firms are adapting their strategies to align with family office capital

• The operational and strategic challenges family offices must overcome to succeed in this space

• Why this shift signals a broader evolution in the private capital ecosystem—where values, independence, and legacy increasingly shape investment philosophy