Hedge funds are investment vehicles using a range of non-traditional strategies (e.g., pairs trading and long-short strategies) to maximize the overall return potential and diversification of a portfolio.

Private equity investments (typically accessed through a limited partnership) take an ownership position in companies or securities that typically are not listed on a public stock exchange. The goal is to add value by providing capital to help new businesses grow and by restructuring existing businesses with operational inefficiencies that offer the potential to generate significant long-term gains.

Alternative credit investments refer to illiquid financing provided to borrowers that cannot access public credit markets or require non-standard, customized terms. Categories of lending within alternative credit include direct lending, mezzanine, distressed debt, and specialty financing.

In exchange for an equity ownership stake, venture capital investors provide funding to early-stage start-ups they expect to grow substantially. The goal is to guide the firm with the intent of selling it either through acquisition or an initial public offering.

Real estate has evolved into a multi-faceted asset class that includes publicly listed and private real estate investment trusts (REITs) and private commercial real estate debt. Real estate not only has a low correlation with equities but is often viewed as a hedge against inflation.