Indian family office assets to grow 1.5x over three years: Julius Baer-EY report
Assets held by India’s family offices are projected to grow 1.5 times over the next three years, from approximately INR700bn ($7.1bn) in 2024, according to research by Julius Baer and EY.
The report links this growth to a larger pool of wealth, more advanced investment approaches and the rising role of family offices as providers of long-term capital.
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It notes that India currently has more than 19,000 ultra-high-net-worth individuals (UHNWIs), a figure projected to cross 25,000 by 2031.
Over the next decade, intergenerational wealth transfers valued at roughly $1.3tn-$1.5tn are also expected, adding to the need for stronger governance structures, succession arrangements and more institutional operating models.
Alongside the rise in assets, investment patterns are also changing.
According to the report, around 40%-45% of allocations in many family offices now go to alternative assets, including private equity, venture capital, private credit, alternative investment funds (AIFs), real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
Family offices are also stepping up direct and co-investment activity, while widening exposure to sectors such as AI, climate technology, renewable energy, semiconductors, electronics manufacturing, cloud services and data centre infrastructure.
EY India family office advisory services tax partner and leader Surabhi Marwah said: ”Indian family offices are evolving from wealth preservation vehicles into active allocators of long-term capital.
“As wealth creation accelerates, families are increasingly investing in private markets, innovation-led sectors and opportunities linked to India’s growth story. This shift is also bringing greater focus on governance, succession planning and professional management as families seek to build enduring institutions that can create value across generations.”
The report says technology is taking a more important role in family offices through wider use of AI-enabled analytics, integrated reporting systems, cyber security measures and digital governance tools aimed at improving oversight, governance and investment decisions.
With cross-border investment activity increasing, tighter regulatory, data privacy and transparency requirements are leading to greater demand for professional management structures, specialised talent and stronger governance frameworks.
Julius Baer India ad interim country head & – global NRI market head Kunal Sumaya said: “The scale and pace of this evolution is being shaped by three powerful forces: explosive wealth creation driven by a strong start-up ecosystem and the rise of Indian primary markets; a profound generational shift in wealth management and deployment; and the institutionalisation of Indian capital markets.
“As India prepares for one of the most significant intergenerational wealth transfers in its history, the families that embrace this moment to build institutional discipline, strengthen governance, invest in technology and talent, and take a long-term approach to managing wealth will not only preserve their legacies, but emerge as architects of India’s economic future.”
