February 2026
Performance News Trends Regulatory updates
UHNW & FO: Reshaping Private Markets
This edition focuses on ultra-high-net-worth capital going institutional as UHNWs and family offices fundamentally reshape private markets. PwC’s Christine Cairns argues that with global wealth now above $500 trillion, private wealth has become a real growth engine for private markets, driving new fund structures, governance models and a structural rebalancing of capital. Marex’s Mark Ralph explores how increasingly sophisticated family offices are adopting prime brokers alongside private banks to achieve institutional-grade trading, financing and operational efficiency without ceding control. Carey Olsen’s Arindam Madhuryya examines how UHNWs are blending private wealth and fund structures in Jersey, using limited partnerships, unit trusts and Jersey Private Funds to access alternatives with greater flexibility, confidentiality and lighter regulation. Elsewhere, in Letter from America, Prosek's Mark Kollar challenges the private-credit “reckoning” narrative, arguing the asset class is still expanding, diversifying and hiring steadily. In The Money Maze Podcast, Simon Brewer interviews East Capital Chairman & CIO Peter Håkansson, who makes the case that real innovation and manufacturing scale increasingly sit in Asia - often China - posing a direct challenge to US-centric portfolios. And in our CAIA section, Georgina Tzanetos explains how Venezuela’s post-Maduro shock has triggered a distresseddebt rally and sharpened US geopolitical leverage, while leaving long-term infrastructure investment firmly in the hands of patient private capital.
A Brodie Consulting publication in conjunction with Capricorn Fund Managers and RQC Group.
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