## Overview

Our free CFA Level III Alternative Investments and Private Markets notes cover everything you need to know for this module. From private equity and venture capital, real estate and infrastructure, to hedge funds and liquid alternatives, we've got you covered. Whether you're intensively reviewing or looking to solidify specific concepts, these notes provide added peace of mind, knowing that you have a comprehensive resource to help consolidate and revise effectively for CFA Level III. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

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

- [Ethical and Professional Standards](./cfa-level3-ethical-and-professional-standards)
- [Behavioral Finance](./cfa-level3-behavioral-finance)
- [Private Wealth Management](./cfa-level3-private-wealth-management)
- [Institutional Investors](./cfa-level3-institutional-investors)
- [Capital Market Expectations](./cfa-level3-capital-market-expectations)
- [Asset Allocation and Portfolio Construction](./cfa-level3-asset-allocation-and-portfolio-construction)
- [Fixed-Income Portfolio Management](./cfa-level3-fixed-income-portfolio-management)
- [Equity Portfolio Management](./cfa-level3-equity-portfolio-management)
- [Derivatives and Currency Management](./cfa-level3-derivatives-and-currency-management)
- [Alternative Investments and Private Markets](./cfa-level3-alternative-investments-and-private-markets)
- [Risk Management](./cfa-level3-risk-management)
- [Trading Execution and Rebalancing](./cfa-level3-trading-execution-and-rebalancing)
- [Performance Evaluation and Attribution](./cfa-level3-performance-evaluation-and-attribution)

## 1. Private equity and venture capital

- [Cash flow modeling irr and pme](./cfa-level3-private-equity-and-venture-capital-cash-flow-modeling-irr-and-pme)
- [Deal structures fees and governance](./cfa-level3-private-equity-and-venture-capital-deal-structures-fees-and-governance)
- [Role in portfolios and risk drivers](./cfa-level3-private-equity-and-venture-capital-role-in-portfolios-and-risk-drivers)

## 2. Real estate and infrastructure

- [Valuation income and appraisal issues](./cfa-level3-real-estate-and-infrastructure-valuation-income-and-appraisal-issues)
- [Core vs opportunistic strategies](./cfa-level3-real-estate-and-infrastructure-core-vs-opportunistic-strategies)
- [Inflation hedging leverage and vehicles](./cfa-level3-real-estate-and-infrastructure-inflation-hedging-leverage-and-vehicles)

## 3. Hedge funds and liquid alternatives

- [Strategy taxonomy and risk exposures](./cfa-level3-hedge-funds-and-liquid-alternatives-strategy-taxonomy-and-risk-exposures)
- [Due diligence and operational risk](./cfa-level3-hedge-funds-and-liquid-alternatives-due-diligence-and-operational-risk)
- [Performance evaluation and replication](./cfa-level3-hedge-funds-and-liquid-alternatives-performance-evaluation-and-replication)

Free CFA Level III Alternative Investments and Private Markets Study Guide