## Overview

Our free CFA Level II Alternative Investments notes cover everything you need to know for this module. From private equity and venture capital, real estate and infrastructure, to commodities and real assets, we've got you covered. Whether you're in a classroom or taking the self-study route, these notes provide added peace of mind, knowing that you have everything you need to help consolidate and revise effectively for CFA Level II exam. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created comprehensive study guides for all CFA Level II topics. Check out our other free notes below:

- [Ethical and Professional Standards](./cfa-level2-ethical-and-professional-standards)
- [Quantitative Methods](./cfa-level2-quantitative-methods)
- [Economics](./cfa-level2-economics)
- [Financial Statement Analysis](./cfa-level2-financial-statement-analysis)
- [Corporate Issuers](./cfa-level2-corporate-issuers)
- [Equity Investments](./cfa-level2-equity-investments)
- [Fixed Income](./cfa-level2-fixed-income)
- [Derivatives](./cfa-level2-derivatives)
- [Alternative Investments](./cfa-level2-alternative-investments)
- [Portfolio Management and Wealth Planning](./cfa-level2-portfolio-management-and-wealth-planning)

## 1. Private equity and venture capital

- [Fund structures fees and waterfalls](./cfa-level2-private-equity-and-venture-capital-fund-structures-fees-and-waterfalls)
- [LBO model drivers and return attribution](./cfa-level2-private-equity-and-venture-capital-lbo-model-drivers-and-return-attribution)
- [VC method staging and term sheets](./cfa-level2-private-equity-and-venture-capital-vc-method-staging-and-term-sheets)

## 2. Real estate and infrastructure

- [Valuation dcf direct capitalization and comparables](./cfa-level2-real-estate-and-infrastructure-valuation-dcf-direct-capitalization-and-comparables)
- [REIT metrics FFO and AFFO](./cfa-level2-real-estate-and-infrastructure-reit-metrics-ffo-and-affo)
- [Infrastructure assets characteristics and valuation](./cfa-level2-real-estate-and-infrastructure-infrastructure-assets-characteristics-and-valuation)

## 3. Commodities and real assets

- [Term structure convenience yield and roll return](./cfa-level2-commodities-and-real-assets-term-structure-convenience-yield-and-roll-return)
- [Commodity indices strategies and exposures](./cfa-level2-commodities-and-real-assets-commodity-indices-strategies-and-exposures)
- [Risk management and futures-based implementation](./cfa-level2-commodities-and-real-assets-risk-management-and-futures-based-implementation)


Free CFA Level II Alternative Investments Study Guide