French Family Offices Drawn to Private Equity Over Private Debt

France’s wealthiest citizens are increasingly directing their family offices to invest in private equity, while their appetite for private debt is waning and crypto remains marginal.

“There is a lot of convergence between family offices and private equity because performance is generally good and there is less volatility,” Frederick Crot, president of the Association Francaise du Family Office, or AFFO, said at a press conference. “Families want their assets to grow steadily, without undue risk.”

Family offices are a relatively new trend in France and the AFFO — whose membership has grown to more than 100 professionals — sees ...