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FEATURED ARTICLE
Out of America? Three family office investors on managing U.S. exposure amid growing risks
The United States is a favoured market to allocate capital for Canadian investors, and family offices are no exception. For example, Canadian Family Offices’ Multi-Family Office Landscape in Canada 2025 survey found that 71 per cent of respondents allocate at least 31 per cent of their portfolios to U.S. assets.
But there’s a wrinkle: 44 per cent of MFOs surveyed also indicated that they were cutting back that exposure. That finding illustrated family offices’ concerns last year over trade strife with the U.S.—among other mounting risks—that suggest Pax Americana, which has supported global economic and political stability for decades, is waning.
Those concerns remain sharp, if not more pronounced, today, according to three capital managers for family offices in Canada. In a two-part series, they discuss their investment philosophies regarding the U.S. and whether the risks they see are pushing them to allocate capital elsewhere. Here, in Part 1, they discuss risks in the U.S. and why (or why not) they are allocating capital elsewhere.
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MEMBER CONTENT
The Bonapace Foundation’s sustainable vision for industrial communities
An Italian surname, Bonapace means a “good peace.” By funding research into environmental monitoring, the Bonapace Foundation is working to bring exactly that to the Quebec city of Rouyn-Noranda.
Founded in 2024, the foundation reflects the Bonapace family’s longstanding commitment to the Abitibi-Témiscamingue region. Their goal is to ensure that industrial communities like Rouyn-Noranda can thrive economically while protecting residents’ health and the environment.
“Our motivation is to continue building and developing the economy, but we also want ourselves and our community to be able to live well,” Lina Bonapace explains. “My brother and I often talk about how lucky we were to have parents who gave us that example. Now we’re asking ourselves: ‘How do we give back?’”
This article is Member Content, provided by PBY Capital.
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