Strategies
Alternative Investments
Private equity, venture and multi-strategy funds.
The typical shape of this kind of investment over time. An illustration, not a forecast.
Available by invitation only to eligible, self-certified investors. Nothing on this page is a public offer or an invitation to invest.
Overview
Alternative investments sit outside the listed stock and bond markets. They include private equity and venture funds and multi-strategy vehicles that invest across a range of private opportunities.
Investors typically accept lower liquidity and longer holding periods in exchange for access to opportunities and returns that differ from public markets. Valuations are usually reported less often than listed prices.
Typical structure
A closed-end fund or co-investment vehicle, typically structured as a limited partnership, with capital drawn down over an investment period and distributed as underlying assets are realised.
Illustrative, to explain the general shape of this asset class. Individual products vary, and each carries its own terms.
Who it may suit
- Investors with a long time horizon who won't need the capital for several years
- Those looking to diversify beyond listed equities and bonds
- Investors comfortable with periodic, less frequent valuations
Typical characteristics
- Liquidity
- Low; quarterly to none
- Typical horizon
- 5–7 years
- Role in a portfolio
- Growth and diversification
- Typical risk range
- 5–6 of 7
- Typical minimum
- $100,000
Key risks
- Illiquidity: capital may be locked up for many years and cannot be sold on demand
- The J-curve: returns are often negative in early years before any recovery
- Valuation risk: values are estimated, not set by a daily market
- Concentration in a small number of underlying holdings
- Manager and operational risk
This is a summary, not a full list. See the Risk Warning and each product's offering documents.
How it appears in your portfolio
Shown with a J-curve projection, which models the typical early dip and later recovery, so the shape of the investment is clear from day one.
Further reading
Events that moved alternative investments
- Private credit · 2 April 2026Blue Owl caps withdrawals from two private credit funds
- Digital assets · 10 October 2025The biggest liquidation day in crypto history
- Commodities · 9 October 2025Silver reaches $50 for the first time in 45 years
- Alternatives · 15 June 2025Harvard and Yale sell private equity stakes
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