This course is part of the Finance & Accounting track.
Introduction to Alternative Investments

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Alternative Investments

$1,850
Next 5-week session starts October 30th
Take your finance knowledge to the next level by learning how to maximize investment portfolio value with alternative investments, including private equity and real estate.
5
weeks
6-7
hours per week
5
modules
Self-Paced
with regular deadlines

 This course earns you a Certificate of Completion from HBS Online. What you earn.

Overview
Syllabus
Enrollment
Stories
FAQs

Key Concepts

Speak the language of alternative investments so that you can better communicate and collaborate with your colleagues and customers
Evaluate alternative investments—including private equity, private debt, hedge funds, and real estate—and identify their defining elements, such as size, risk, and liquidity
Develop the confidence and ability to assess potential investment opportunities and maximize the value of investment portfolios
Gain the skills and strategies to choose the right alternatives manager or become that future manager yourself

Who Will Benefit

Gain a competitive edge by developing actionable skills in the alternative investments field you can leverage to advance your career.
Alternative Investments provided more substantial coverage than what I previously had from school versus on the job.
Emily Stebbins
External Vendor Data Relationship Manager, Index & Data Solutions at BlackRock
Jumpstart your career by gaining the skills and knowledge to join one of the fastest-growing fields in finance.
"I've taken a lot of paid online courses, but the HBS Online experience was close to that of the classroom and highly immersive."
Swaminathan Aiyer
Head of Private Equity at Amazon Web Services
Learn to speak the language of alternative investments to better serve your financial services clients’ needs and become a more effective attorney, CPA, or overall colleague.
"HBS Online doesn't teach you knowledge or prescribe to any cookie-cutter solutions to problems. Rather, it teaches you how to think about business problems and arrive at a solution yourself."
Sichao Ni
Commercial Attaché, U.S. Embassy Singapore at U.S. Department of Commerce

What You Earn

Certificate of Completion

Certificate of Completion

Boost your resume with a Certificate of Completion from HBS Online

Earn by: completing this course

Certificate of Specialization

Certificate of Specialization

Prove your mastery of finance and accounting

Earn by: completing any three courses within this subject area to earn a Certificate of Specialization

Syllabus

5 Modules, 35 Hours
Download full syllabus

Prerequisite

Participants should have completed an undergraduate-level introductory finance course or equivalent at some point during their education and possess a basic understanding of capital markets, portfolio theory, and risk and return.
6-7
hrs
Module 1

Private Equity

Learn what private equity is and its different segments: growth equity, buyouts, and venture capital. Explore the sources of risk and value and how private equity is funded.

Highlights

How Is Private Equity Funded?
Three Segments of PE
Should BC Partners Exit?
ShowHide Details

Concepts

  1. Introduction to Private Equity
  2. Venture Capital
  3. Growth Equity
  4. Buyouts
  5. Private Equity Wrap-up

Featured Exercises

  • Calculate the value of equity
  • Identify and rank private equity segments by their attributes and skills required
6-7
hrs
Module 2

Private Debt, Distress Investing, and Secondaries

Compare and contrast private equity and debt and identify the skills needed for successful distress investing.

Highlights

From Equity to Debt
Structuring the Pierre Foods Deal
GSO/Crosstex: The Outcome
ShowHide Details

Concepts

  1. Introduction to Distress Investing
  2. Distress Investing: Oaktree/Pierre Foods
  3. Private Debt & Rescue Financing: Blackstone/GSO Crosstex
  4. Private Debt and Distress Wrap-Up
  5. Private Equity: Secondaries

Featured Exercises

  • Classify attributes of investment opportunities
  • Rank deals by their characteristics
6-7
hrs
Module 3

Hedge Funds

Learn key elements of hedge funds, including fee structure and sources of risk and value, and understand and assess types of arbitrage and strategies.

Highlights

Long Short Strategy
The Pitfalls of TCI's Approach
Fundamental vs. Technical vs. Quant
ShowHide Details

Concepts

  1. Beta, Alpha, and the World of Hedge Funds
  2. Going to Extremes: Activist Investing at TCI
  3. Arbitrage and Global Macro
  4. Quantitative Hedge Fund Investing
  5. Putting It All Together - Constructing a Hedge Fund Portfolio

Featured Exercises

  • Calculate alpha and beta
  • Arbitrage trading simulation
6-7
hrs
Module 4

Real Estate

Understand how real estate differs from the rest of the alternatives space and the types of real estate investments.

Highlights

Real Estate Industry
Rick's Dilemma
ShowHide Details

Concepts

  1. Introduciton to Real Estate
  2. The Real Estate Diamond
  3. Rick's Dilemma
  4. Choosing Between RE Investment Types

Featured Exercises

  • Identify phases of the real estate market
  • Prepare for a real estate negotiation
  • Conduct valuation analysis
  • Classify real estate products based on their diversification potential
6-7
hrs
Module 5

Portfolio Construction

Describe the “money journey” and key players involved, interpret metrics to analyze performance, and discuss trends in alternatives.

Highlights

The Money Journey Part 1
Complementarity
PFA Pension: Strategy 2020
ShowHide Details

Concepts

  1. The Money Journey
  2. Performance Evaluation
  3. Portfolio Construction & Diversification
  4. Investing in Alternatives
  5. Trends in Alternatives & Course Wrap-Up

Featured Exercises

  • Test knowledge of lockup period, liquidity frequency, and notice period
  • Practice analysis of key metrics
  • Rank investment risks

Interested in using this course for CFA Institute credit?

CFA Institute (including the Chartered Financial Analyst and Certificate in Investment Performance Measurement programs) allows its members the ability to self-determine and self-report continuing education credits earned from external sources. CFA Institute members are encouraged to self-document such credits in their online Professional Learning tracker.
Free E-Book

A Manager's Guide to Finance & Accounting

Learn about the difference between finance and accounting, the financial skills all managers need, and how taking an online course can help you achieve your educational goals and accelerate your career.

Our Difference

Alternative Investments will equip you with the skills, confidence, and strategies to assess potential investment opportunities in private equity, private debt, hedge funds, and real estate.
Stay active by engaging in a new activity every three to five minutes.
Stay active by engaging in a new activity every three to five minutes.
Get social by collaborating with a global community of peers before, during, and after your course. Learners who successfully complete an HBS Online program will be added to the HBS Online Community's Official Networking Group and gain exclusive access to events and other networking opportunities.
Get social by collaborating with a global community of peers before, during, and after your course. Learners who successfully complete an HBS Online program will be added to the HBS Online Community's Official Networking Group and gain exclusive access to events and other networking opportunities.
Immerse yourself in real-world, case-based examples brought to life by industry-leading experts from companies like GSO Capital, the Children's Investment Fund, PFA Asset Management, and Oaktree Capital Management.
Immerse yourself in real-world, case-based examples brought to life by industry-leading experts from companies like GSO Capital, the Children's Investment Fund, PFA Asset Management, and Oaktree Capital Management.

About the Professors

Victoria Ivashina
Alternative Investments

Lovett-Learned Professor of Business Administration
"This course will teach you about alternative investment strategies and what you need to know to manage and strengthen your portfolio."

Randolph Cohen
Alternative Investments

Senior Lecturer of Business Administration
"Alternatives have become one of the most innovative and exciting parts of the investment landscape."

Arthur Segel
Alternative Investments

Baker Foundation Professor of Management Practice
"You'll learn not only what makes a great investment but the strategies and mindset needed to be a successful investor."

Dates & Eligibility

Starting
Oct
30
5 Weeks  $1850 + applicable international taxes
Enrollment deadline October 24
View weekly calendar
Enroll Now
Starting
Feb
12
5 Weeks  $1850 + applicable international taxes
Enrollment deadline February 6
View weekly calendar
Enroll Now
  • No documentation required

All learners must be at least 18 years of age, proficient in English, and committed to learning and engaging with fellow participants throughout the course.

Learn about bringing this course to your organization.

Learner Stories

91%
gained deeper expertise in specific areas
The virtual, interactive platform was unique. I was continuously engaged with the course's material and learned a lot from my peers.
Kaushal Khodifad
Senior Systems Engineer at Infosys
Alternative Investments provided more substantial coverage than what I previously had from school versus on the job.
Emily Stebbins
External Vendor Data Relationship Manager, Index & Data Solutions at BlackRock
* Source: 2022 surveys and course data
 
All FAQs

Alternative Investments FAQs

Participants in Alternative Investments are eligible for a Certificate of Completion from Harvard Business School Online.

Participants are expected to fully complete all coursework in a thoughtful and timely manner. This will mean meeting each week’s course module deadlines and fully answering questions posed therein. This helps ensure participants proceed through the course at a similar pace and can take full advantage of social learning opportunities. In addition to module and assignment completion, we expect you to offer feedback on others’ reflections and contribute to conversations on the platform. Participants who fail to complete the course requirements will not receive a certificate and will not be eligible to retake the course.

More detailed information on course requirements will be communicated at the start of the course. No grades are assigned for Alternative Investments. Participants will either be evaluated as complete or not complete.

You will have access to the materials in every prior module as you progress through the program. Access to course materials and the course platform ends 60 days after the final deadline in the program.

At the end of each course module, you will be able to download a PDF summary highlighting key concepts and formulas used throughout the course. At the end of the program, you will receive a PDF compilation of all of the module summary documents. We hope the module summary documents will serve as a helpful resource after you finish the course.

Once you've earned your Certificate of Completion, list it on your resume along with the date of completion:

Harvard Business School Online
Certificate in Alternative Investments
[Cohort Start Month and Year]

List your certificate on your LinkedIn profile under "Education" with the language from the Credential Verification page:

School: Harvard Business School Online
Dates Attended: [The year you participated in the program]
Degree: Other; Certificate in Alternative Investments
Field of Study: Leave blank
Grade: "Complete"
Activities and Societies: Leave blank

Description:
Alternative Investments is a 5-week, 30-hour online certificate program from Harvard Business School. Alternative Investments teaches students how to speak the language of alternative investments, identity the defining elements of private equity, private debt, hedge funds, and real estate, assess potential investment opportunities, and understand the skills and strategies necessary for investing in alternatives. The program was developed by leading Harvard Business School faculty and is delivered in an active learning environment based on the HBS signature case-based learning model.

Participants should have completed an undergraduate-level introductory finance course or equivalent at some point during their education and possess a basic understanding of capital markets, portfolio theory, and risk and return.

CFA Institute (including the Chartered Financial Analyst and Certificate in Investment Performance Measurement programs) allows its members the ability to self-determine and self-report continuing education credits earned from external sources. CFA Institute members are encouraged to self-document such credits in their online Professional Learning tracker.

 

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