A recent survey conducted by With Intelligence, in cooperation with the Alternative Investment Management Association, examined the perspectives of family offices, endowments, foundations and pension funds toward investments in hedge funds, private equity (PE), private credit, real estate and real assets. The survey covered the respondents’ intentions with respect to allocations to each type of alternative investment and the key drivers of their decisions, with a focus on hedge fund allocations. Notably, the survey found that, in the coming year, a majority of the family offices, endowments and foundations surveyed are likely to increase allocations to hedge funds and PE. This article discusses the survey’s principal findings. For another recent investor survey, see our coverage of EY’s 2021 Global Alternative Fund Survey: Part One (Feb. 10, 2022); and Part Two (Feb. 17, 2022).