Family office co-investment networks: how families share deals

Family office co-investment networks are membership organisations where principals and executives meet peers, compare notes on managers and, in some cases, present deals they are leading to other families. Most of the established networks are explicit that they are not deal clubs and take no economics from transactions. The deal sharing happens between members rather than through the organisation. Survey data show strong appetite: a 2024 survey reported by CNBC found 60% of family offices view networking with other family offices as important and 74% are "eager for more introductions", while PwC's 2025 deals study found club deals made up 69% of family office transactions in the first half of 2025.

The main networks and how they work

Family Office Exchange describes itself as "the world's first peer to peer network for ultra wealthy families" and reports more than 6,000 individual family members served. Its model is structured peer groups and research rather than transactions. Campden Club is the most explicit about deal flow. Its 2025 brochure describes co-investment workshops as private, invitation-only gatherings where members present opportunities, often off-market, in which they hold the majority of the capital and which they personally champion. Campden states it "is not a deal club and derives no financial benefit from any transactions" between members, and asks members not to solicit each other outside the workshops and the needs and leads sessions. Average membership tenure is 9.5 years.

TIGER 21 publishes a quarterly allocation report from its members, which is itself a form of information sharing. Its Q2 2026 report put private equity at a record 34% of member allocations, real estate at 23%, public equities at 25% and cash at 7%, the lowest since it began collecting data in 2007.

What gets shared

The useful output of a network is usually diligence rather than a deal. Members can ask who else has looked at a manager or a company, what terms others received, and whether an operator delivered. Campden Wealth's 2025 North America report quotes an interviewee: "More or less all our warm leads come from other family offices." The same report found 53% of offices rate their industry network as important.

Where a deal does change hands, the presenting family normally keeps the lead role. It has done the work, holds the largest cheque and sets terms. Joiners get access and a reference check from a peer, in exchange for accepting another family's underwriting. The mechanics of that arrangement are covered in club deals: how families syndicate.

Co-investment appetite in the data

Campden's 2025 report found co-investments account for 8% of the North American private markets portfolio, described as a "modest but increasing role", with the opportunities coming "through fund managers and others". In venture, older but more granular research from SVB Capital and Campden Wealth reported by Opalesque in 2020 found 92% of family offices co-invest alongside other families and venture funds, with co-investments making up 19% of the average venture portfolio.

Demand for help is high. BlackRock's 2025 survey of 175 single family offices found 63% reported gaps in deal sourcing expertise, and the Caproasia summary of the same report shows 52% named co-investment and direct deal sourcing opportunities as the external support they most want. BNY Wealth's 2025 report said demand for co-investments "is likely to grow" as limited in-house resources push offices towards working with others.

Limits and conflicts

Networks solve introductions, not underwriting. A deal presented by a respected peer still needs independent diligence, because the presenter's incentives differ from the joiner's once the presenter holds a majority position. The 2024 Bastiat Partners survey found 52% of family offices prefer direct deals through syndicates, and the report noted families "may see 10 deals or more for every one that works". Offices that take deals from peers should document how they handle reciprocity, fee sharing and information barriers, which is the subject of family office conflicts of interest policy. For the wider sourcing picture, see deal sourcing for family offices.