India’s wealthiest families are changing the way they invest. Family offices, which traditionally focused on equities, fixed income, real estate and the family business, are putting a much larger part of their portfolios into private markets and other alternatives. The Julius Baer-EY 2026 “Indian family office playbook: Now, next and beyond” says that 40–45% of allocations in many family offices are now directed towards alternatives. These include private equity (PE), venture capital (VC), private credit, alternative investment funds (AIFs), real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).