Canadian wealthy families are moving deeper into private markets

Nour Private Wealth says alternative assets are becoming a core portfolio allocation for Canadian ultra-high-net-worth families, with more capital shifting into private equity, private credit, real estate and infrastructure. The firm points to rising institutional-style investing, stronger tax planning potential and tighter governance needs as private wealth management converges with pension-fund practices.

Why it matters: - Canadian ultra-high-net-worth families are treating alternative investments as a core portfolio tool, not a side allocation. - The shift is changing how private wealth firms build portfolios, manage risk and plan for multigenerational wealth transfer. - Private markets can add diversification, potential tax deferral and long-term compounding that public markets may not provide as reliably.

What happened: - Nour Private Wealth said July 16, 2026, that alternative assets are becoming central to portfolio construction for Canadian wealthy families. - The firm cited private equity, private credit, real estate, infrastructure and venture capital as the main categories gaining weight. - The message was framed around institutional-style investing increasingly influencing private wealth management in Toronto and across Canada.

The details: - Pension funds and sovereign wealth funds have long held high alternative allocations, often at 50% or more of total assets. - A Bank of America family office study found family offices globally devote about 35% of capital to alternative strategies. - Preqin data shows North American family offices now target roughly 29% in private markets. - Canadian family offices have been more cautious, with 83% holding less than 40% in alternatives. - Real estate is the largest alternative category in Canadian family offices, followed by private equity and private credit. - Canadian UHNW families are increasingly targeting 25% to 40% of portfolio value in alternative assets. - Longer holding periods in private markets can create tax-deferral opportunities. - Structures such as limited partnerships and family trusts can help manage income recognition and capital gains exposure across generations. - Nour Private Wealth said the acquisition of Goodwood brought nearly 30 years of alternative-investment experience into its platform. - The combined platform can structure public funds, private funds, co-investments and direct deals. - The firm said its alternative platform operates within governance processes covering due diligence, liquidity management, compliance review and ongoing monitoring. - RBC Global Asset Management has noted that private markets can fit multigenerational wealth planning because infrastructure, real estate and private businesses can compound over time.

Between the lines: - The shift suggests Canadian private wealth is moving closer to the playbook long used by institutional investors. - The main trade-off is higher complexity and less liquidity, which makes manager selection and liquidity planning more important. - The emphasis on governance signals that access to private markets is becoming less of the differentiator than the ability to control risk inside them.

What's next: - Nour Private Wealth appears positioned to capture more demand from families looking to raise private-market exposure while keeping institutional-style oversight. - The firm expects rigorous liquidity management and manager selection to remain the key constraints as allocations rise. - For clients, the next step is likely a more deliberate blend of public and private assets built around long-term family objectives.

The bottom line: - Alternative assets are becoming a standard part of sophisticated Canadian wealth management, and the competitive advantage is shifting to firms that can govern them well.