TIGER 21 Members Raise PE Allocations to Record 34%
Private equity has become the largest asset class for members of TIGER 21, as ultra-high-net-worth investors continued shifting capital away from cash and real estate and toward private markets and other growth-oriented assets, according to the organization’s second-quarter 2026 Asset Allocation Report.
The peer-to-peer learning network reported that private equity allocations climbed to a record 34% of member portfolios in the second quarter, up six percentage points from a year earlier and extending a multi-year trend toward private market investing.
Public equities also gained favor, rising to 25% of portfolio allocations, up two percentage points year over year and reaching their highest level in more than two years. Meanwhile, cash and equivalents fell to 7%, the lowest level since TIGER 21 began tracking allocations in 2007, while real estate declined to 23%, down three percentage points from a year ago.
“When uncertainty rises, these investors don’t freeze,” said Michael W. Sonnenfeldt, founder and chairman of TIGER 21. “They deploy capital into the opportunities they believe will create advantage and long-term growth.”
The report also showed modest allocations to fixed income (6%), cryptocurrency (2%), commodities (2%) and hedge funds (1%), reflecting continued diversification beyond traditional public markets.
“In our group meetings, the conversation has steadily moved toward private markets,” said Michael Woods, a TIGER 21 group chair. “Members are leaning into areas where their experience, networks and operational expertise can be put to work.”
Founded in 1999, TIGER 21 has nearly 2,000 members ranging in age from 27 to 90, with an average net worth of $140 million.
Connect Money is spotlighting rising stars who have made a valuable contribution to the alternative investments industry. Based on your nomination, we will recognize professionals who have significantly influenced both the workplace and community. The deadline is September 9. Click here to submit your nominations and help us highlight the next generation of leaders.