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Why Are Young Wealthy Americans Turning to Private Markets?

By Cécilia Pelloux10 novembre 2026

For America’s next generation of wealthy investors, diversification no longer means simply balancing stocks and bonds. It means gaining access to the private companies, technologies and alternative assets that could define the next decade. Younger American investors including Gen Z and millennials are reshaping how wealth is built and diversified, they are redefining diversification.

In the United States, young, wealthy investors are increasingly seeking access to the companies and sectors that will shape the next 10 to 20 years, before they go public (Shutterstock)

[Wealthy young Americans] want to invest where growth is

Fred Mannix, portfolio manager at Standard Wealth, part of Accelerate Financial Technologies

According to Bank of America Private Bank’s 2026 Study of Wealthy Americans, investors aged 21 to 45 with at least $3 million in assets allocate just 32% of their portfolios to stocks, compared with 58% among wealthy investors over 45. «There is a real generational shift happening among wealthy and ultra-wealthy Americans, particularly Millennials and younger entrepreneurs. It is not simply that they like private equity more. Their definition of what constitutes an attractive investment is changing» explains Nicolas Pourcelet, President of Rosenquist Capital, a private Equity and Venture specialist.

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The Private-Company Access

Young investors allocate a significantly larger proportion of their portfolios to alternative investments and cryptocurrencies, whilst devoting fewer resources to traditional shares than older generations (Shutterstock)

Young Americans are wondering how to turn $100 million into $500 million whilst getting involved in technologies that are changing the world

Nicolas Pourcelet, Chairman of Rosenquist Capital, a specialist in private equity and venture capital

The most interesting point for someone building an investment platform is that young wealthy investors increasingly want access to the companies and themes that will define the next 10–20 years, before those companies become public.

Private companies in Space, Physical AI / Robotics, AI infrastructure, Longevity - Life Sciences, or Defense technology are attracting young wealthy investors.

Sam Altman, CEO of OpenAI, the company behind ChatGPT (Shutterstock)

How is this different from their parents? “This is probably the most interesting part. The philosophy of the previous generation was preserving wealth, diversify and reduce volatility. The younger generation is more likely to think: where are the asymmetric opportunities? Their new asset allocation is overweight Private Companies in growth sectors for AI - Tech, Space, Defense as well as blockchain and crypto » comments Nicolas Pourcelet.

The Bank of America’s 2026 study illustrates the difference particularly well: younger investors allocate considerably more to alternatives and crypto, while allocating less to traditional stocks than older generations. 88% of younger investors said they were likely to increase their alternative investments, versus only 15% of Boomers/Silents.

Young wealthy Americans are attracted to private companies for several reasons. “They want to invest where the growth is happening” adds Fred Mannix, Portfolio Manager of Standard Wealth at Accelerate Financial Technologies.

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