The percentage of U.S. family offices engaging in impact investing doubled from 27% in 2015 to 54% in 2024, according to the U.S. version of PwC’s 2024 Global Family Office Deals Study. The percentage has been above 50% since 2022.
“Families have always been stewards of their communities. As we see more and more families become regional and global, they’re thinking about that larger community when they think about impact investing,” says Jonathan Flack, PwC’s Global & US Family Office & Family Business Leader.
The shift has been driven by a number of factors, including generational change and stronger data supporting the business case for these investments.
“I think 10 years ago, families struggled with metrics to measure impact investing. Now families are using nonfinancial metrics in addition to the traditional ROI,” Flack says. “The long-term orientation that families have in their investing models fits really well with impact investing.”
The report found that education, health care and renewable energy are the top three industries for impact investing.
U.S. family offices double their impact investments from 2015 to 2024
