Alternative Investments – Subject Index
Modules
| # | Module | LOS | Pages |
|---|---|---|---|
| M01 | AI Features, Methods and Structures | 1.a–1.c | p.2–29 |
| M02 | AI Performance and Returns | 2.a–2.b | p.167+ |
| M03 | Investments in Private Capital: Equity and Debt | 3.a–3.c | p.30–62 |
| M04 | Real Estate and Infrastructure | 4.a–4.d | p.63–85 |
| M05 | Natural Resources | 5.a–5.c | p.86–106 |
| M06 | Hedge Funds | 6.a–6.c | p.107–134 |
| M07 | Introduction to Digital Assets | 7.a–7.d | p.135–166 |
SAPP Study Order
- M01 – AI Features, Methods and Structures
- M03 – Investments in Private Capital
- M04 – Real Estate and Infrastructure
- M05 – Natural Resources
- M06 – Hedge Funds
- M07 – Introduction to Digital Assets
- M02 – AI Performance and Returns
Sources
Key Themes
- Illiquidity premium — Alternative investments compensate for lower liquidity with potentially higher returns.
- Diversification — Low correlation with traditional assets improves portfolio risk-adjusted returns.
- Fee structures — Management fees + performance fees (carried interest) with hurdle rates and high-water marks.
- Valuation challenges — Lack of observable market prices, stale pricing, and appraisal-based valuations.
- J-curve effect — Early negative returns followed by value creation in later fund years.