Top 10 Most Active Family Offices in Europe (2025)

In 2025, family offices across Europe are playing an increasingly prominent role in global capital markets, often rivaling institutional investors in scale and strategic influence. Backed by multi-generational wealth and guided by long-term mandates, many of these privately held firms are active across asset classes—from venture capital and private equity to infrastructure, real estate and public markets. While some focus on preserving wealth through conservative investments, others actively shape innovation, energy transition, healthcare, and consumer trends. This report profiles ten of the most active European family offices in 2025, highlighting their recent investments, sector preferences and overall deal activity based on publicly verifiable transactions. We created this unique analysis based on the high-quality database of the 1,500 largest European family offices by familyofficehub.io.

1. H14 S.p.A. (Italy)

H14 is the Italian family office of the Berlusconi family (siblings Barbara, Eleonora, and Luigi Berlusconi), managing a portion of the media dynasty’s wealth.  H14 invests across asset classes – from public equities and real estate to private equity and venture funds. The firm has a strong focus on technology and digital startups; it has been an LP in top European VC funds and co-invests in growth deals. In 2023, for instance, H14 joined a €12 million funding round for German pharma-tech startup Qualifyze (and also joined in its next round in 2024). In 2025, H14’s venture arm remained active in Europe’s tech scene – it was an early backer of Berlin-based The Icon League, a five‑a‑side football esports competition, and retained its stake during the league’s €15 million Series A in late 2025. The family office is also active in various verticals; for instance, in autumn 2024, it acquired a minority stake in a Rome-based private university.

2. KIRKBI A/S (Denmark)

KIRKBI is the family office of the Kirk Kristiansen family, owners of the LEGO Group. Based in Billund, KIRKBI manages over $16 billion of family assets with a long-term, values-driven approach. The firm invests across multiple asset classes – holding a 75% stake in LEGO, significant real estate holdings, and a portfolio of private equity and renewable energy investments. In line with its mission of “building a sustainable future for children,” KIRKBI has been deploying capital into clean energy and education ventures. In November 2025, KIRKBI (via KIRKBI Climate) provided follow-on funding to UK energy-storage firm Highview, as part of a £130 million raise to build grid-stability solutions.

3. Ferd AS (Norway)

Ferd is the family office of Norway’s Andresen family, helmed by billionaire Johan H. Andresen.  It operates multiple divisions – including private companies, listed stocks, real estate, impact investments, and venture capital – making it one of the Nordic region’s most multifaceted family offices. In 2025, Ferd continued to be a deal powerhouse in Northern Europe. For instance, it invested in proptech startup Kvist – whose solutions it also uses as a customer.

4. COFRA Holding AG (Brenninkmeijer Family, Netherlands/Switzerland)

COFRA Holding is the investment vehicle of the Brenninkmeijer family, owners of the C&A fashion retail fortune. Based in Zug, Switzerland, COFRA oversees a vast multi-generational empire – spanning private equity (Bregal Investments), real estate (Redevco), renewable energy, and other alternative investments. Historically secretive, the sixth-generation Brenninkmeijer family has recently opened up to outside capital and aimed to double its AUM within a decade. COFRA’s private equity arm, Bregal Investments, has been particularly active, consisting of several funds and direct investment teams operating globally. It also re-invested in Nofence, in a £26m funding round in July 2025.

5. Reuben Brothers (United Kingdom)

Reuben Brothers Ltd is the London-based family office of David and Simon Reuben, two of Britain’s wealthiest entrepreneurs. The Reubens have built a vast portfolio across real estate, private equity, infrastructure, and leisure assets, with an estimated net worth over £20 billion. Their family office is known for swift deal-making and opportunistic investments around the globe – from London property developments to data centers, banks, and racecourses. In 2025, the Reuben Brothers continued their high-profile deal spree. They made headlines for exploring a move into tech media: the brothers considered a nine-figure investment to join a consortium bid for content platform OnlyFans, in a potential $7 billion acquisition deal. At the same time, they pushed forward major projects in hospitality and real estate. For instance, Reuben Brothers’ £1 billion redevelopment of London’s historic Piccadilly Estate – including the conversion of Cambridge House into a luxury hotel and members’ club – progressed with an opening slated in late 2025.

6. Kulczyk Investments (Poland)

Kulczyk Investments is the family office of Poland’s Kulczyk family, founded by the late Jan Kulczyk (once Poland’s richest man) and now led by his children Sebastian and Dominika. Headquartered in Warsaw, Kulczyk Investments manages several billion euros in assets, making it one of the largest single-family offices in Poland. The firm holds a diverse portfolio across chemicals, energy & infrastructure, real estate, and technology – with operations in more than 30 countries. It often takes majority stakes in midsized companies or invests via consortia, while also running a VC arm (Manta Ray for early-stage tech). Kulczyk Investments has been behind some of Poland’s biggest private-sector deals since the 1990s. In recent years it executed major exits, such as selling a French highway concession for ~€700 million in 2023. In 2025, the family office continued deploying capital into ambitious projects. For example, its real estate development subsidiary Noho Investment secured a €182 million financing package in May 2025 to fund a landmark mixed-use project in Warsaw – underlining the group’s ability to marshal large-scale capital for domestic ventures.

7. Wendel-Participations (France)

Wendel-Participations is the family holding office of France’s Wendel family, descendants of the 18th-century industrial dynasty. It serves as the reference shareholder of Wendel SE, a publicly listed investment firm (often considered Europe’s oldest family investment trust). Through Wendel, the family office oversees several billion euros of assets, focusing on controlling stakes in companies across industries (materials, industrial tech, business services, etc.). Wendel’s approach is akin to private equity – acquiring companies, developing them over years, and occasionally exiting. In 2023, Wendel demonstrated its bold deal-making by acquiring an 82% stake in Scalian (a French digital engineering and consulting firm) for an enterprise value of €965 million. Wendel invested about €557 million equity for this deal, underscoring the family office’s capacity for large transactions. As of 2025, Wendel-Participations continues to hold major stakes in firms like Constantia Flexibles (packaging), Stahl (chemicals), and Crisis Prevention Institute, while scouting for new acquisitions in areas such as healthcare and technology services. Top deals in 2025 include the acquisition of Monroe Capital LLC, or an investment in TadaWeb’s $20M round.

8. Viessmann Generations Group (Germany)

Viessmann Generations Group is the newly refocused family office of the Viessmann family, following the 2023 sale of Viessmann’s core Climate Solutions business to Carrier Global for €12 billion. Now armed with a substantial capital influx, Max Viessmann (CEO and 4th-generation heir) has pivoted the 106-year-old family enterprise into an investment platform addressing global megatrends. Viessmann Generations Group invests in “Clean & Cold” solutions, climate tech, sustainable food systems, and urban innovation. In late 2024, the family office completed a major transatlantic deal – acquiring Texas-based KPS Global, a market leader in custom cold-storage enclosures (walk-in coolers), to establish a North American beachhead for its cooling business. By 2025, Viessmann further signaled its ambitions through partnerships: in January 2025 it teamed up with Urban Partners (part of NREP) to launch a new investment venture for sustainable city development aiming to finance green urban infrastructure across Europe.

9. Nordstjernan AB (Sweden)

Nordstjernan is the family investment company of Sweden’s Axel Johnson/Nordström family, now led by Viveca Ax:son Johnson. With roots dating back to 1890, Nordstjernan manages the family’s significant wealth (its portfolio value is in the tens of billions of kronor) with a strategy of long-term majority ownership in established businesses. Key holdings include sizable stakes in listed companies like NCC (construction) and Thule (outdoor products), as well as privately held firms in health care, industrial equipment, and logistics. In recent years, Nordstjernan also ran a Growth division targeting tech-driven growth companies. However, in 2025 the family office opted to refocus on larger core investments and streamlined its venture exposure. In March 2025, Nordstjernan sold off its entire “Nordstjernan Growth” arm – which held minority stakes in five tech startups including fintech firm Zimpler and survey platform Mentimeter – to a new entity owned by two ex-EQT executives. This divestment aligns with Nordstjernan’s strategy to focus on large-scale deals. Also its portfolio company Dacke Industri announced a large-scale acquisition.

10. Verlinvest (Belgium)

Verlinvest is a Brussels-based family-backed investment company (the de Spoelberch and de Mévius families of AB InBev) known for its global consumer-focused portfolio. It operates as an evergreen fund with over €2 billion AUM, backing brands like Oatly, Vita Coco and Tony’s Chocolonely. Verlinvest pursues growth equity and venture investments in consumer goods, health, and tech. For example, in 2025 it expanded into sports entertainment by acquiring a majority stake in Boulders, Denmark’s largest chain of climbing gyms. It also made a $75 million investment for a minority stake in The Eye Foundation, an Indian ophthalmology hospital network, marking one of the largest specialty healthcare deals in India.

Picture Source: Getty Images (17.11.2025)