December 2025
Performance News Trends Regulatory updates
How Family Offices are reshaping today's Private Markets
This month we turn to the evolving world of family offices, where a wave of senior female appointments is reshaping the landscape, as Lutyens Advisory's Tanya Lutyens explores the effects of generational wealth transfer and increasingly professionalised hiring on a long maledominated sector. Scott Jones and Philip Aubry of Walkers examine how illiquid private assets can spark inter-generational tensions and why structured sales, bank-backed liquidity and co-investment solutions are becoming critical to preserving value. Andrew White of Capricorn Private Investments highlights the rise of the Outsourced CIO model, giving family offices institutional-grade expertise without relinquishing control. Changing tack, in Opinion, Evonite’s José Pellicer argues that amid geopolitical shifts, tech disruption and oversimplified market narratives, fundamentals - not consensus stories - reveal the real opportunities. In Letter from America, Prosek's Mark Kollar explains why investors are returning to the lower middle market in search of differentiated, founder-led opportunities heading into 2026. In this month’s Money Maze Podcast article, Ares Co-President Blair Jacobson reflects on how disciplined underwriting and deep local teams have helped propel Ares into a $600 billion private-markets powerhouse amid Europe’s expanding private credit landscape. Finally, in our new CAIA section, Aaron Filbeck outlines why private credit—once viewed as easy income—now demands sharper discipline and more rigorous scenario analysis in an era of higher rates and geopolitical volatility.
A Brodie Consulting publication in conjunction with Capricorn Fund Managers and RQC Group.
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