Asia Pacific (APAC) family offices appear to be taking a more selective approach to sustainable investing than their global peers, even as they position their portfolios for aggressive growth in private markets, according to the 2026 Global Family Office Report by Citi Wealth.
At 62%, APAC has the highest proportion of family offices reporting no allocation to sustainable investments. Among those that do invest in this sector, public equities are the most common vehicle, accounting for 20% of allocations, followed by private equity at 13%.
That puts the region behind the broader global trend, where close to half of family offices have allocated capital to sustainable investments. Globally, public equity is also the most widely used vehicle at 23%, followed by private equity at 21% and real assets such as natural capital, farmland and affordable housing at 16%.
Larger family offices are more likely to deploy sustainable investment capital through private markets and real assets, the report shows, while their smaller counterparts distinguish their strategy through higher deployment in public debt instruments.
APAC’s philanthropic ecosystem, meanwhile, is not as well established as other geographies, and families in this region tend to prioritise networking and learning.
For these investors, sustainability appears to be partially competing with another priority: generating high returns and capturing growth.
The report points to a distinctly growth-oriented investment posture among APAC family offices.
While most family offices remain in a return target range of 7-10%, similar to global peers, the region has the highest proportion of respondents targeting annual portfolio returns above 15%, at 22%.
Citi Wealth attributes part of this appetite to the region’s relatively young wealth creators, many of whom are entrepreneurs with ambitions to build businesses repeatedly rather than simply preserve inherited wealth.
It points out that APAC has the lowest rate of first-generation in control of the wealth, at 49%, compared to 57% in North America and 53% in EMEA.
That entrepreneurial mindset is also reflected in planned portfolio allocations. APAC family offices report the highest expected increases across several private market growth strategies: 36% expect to increase allocations to growth equity, 26% to venture capital and 23% to buyouts.
That said, more than half of respondents across regions continue to favour public equity, pointing to the importance of liquidity in family office portfolios.
In terms of geographies, while North America remains a top-of-mind market, Asian families are increasingly building conviction for their home market. North America and APAC excluding China are viewed as the most attractive regions for incremental capital deployment.
China, meanwhile, appears to be attracting a more selective cohort. Some 19% of respondents expect to increase their investments in China, while 26% report having no current or planned allocation.
APAC family offices are “characterised by entrepreneurial thinking, institutional-quality investment practices and a strong appetite for global connectivity,” said Bernard Wai, Head of Asia for Integrated Client Solutions and Global Family Office at Citi Wealth. “Family offices across APAC have evolved to become increasingly sophisticated, requiring the talent, setup and governance for a sovereign wealth fund-like investment mindset,” he added.
