Alternative investments refer to a broad category of assets that fall outside the traditional investment classes of stocks, bonds, and cash. These investments can vary widely in terms of asset type, risk, return profile, and liquidity. They are often considered non-traditional and may include a range of strategies and asset classes. Here are some common types of alternative investments:

1. **Hedge Funds:** Hedge funds pool capital from accredited investors and employ various strategies to generate returns. These strategies can include long/short equity, global macro, event-driven, and arbitrage, among others.

2. **Private Equity:** Private equity involves investing in private companies or taking significant ownership stakes in public companies. This can include venture capital, buyouts, and distressed investments.

3. **Real Estate:** Real estate investments involve owning physical properties such as residential or commercial real estate, as well as indirect investments through real estate investment trusts (REITs) or real estate crowdfunding platforms.

4. **Commodities:** Investing in commodities involves buying physical goods like gold, silver, oil, or agricultural products. It can also include investments in commodity futures contracts.

5. **Private Debt:** Private debt investments involve lending money directly to private companies. This can include direct lending, mezzanine financing, and distressed debt.

6. **Infrastructure Investments:** Infrastructure investments involve financing and owning physical infrastructure assets such as airports, toll roads, and utilities.

7. **Venture Capital:** Venture capital involves investing in early-stage companies with high growth potential. Venture capitalists provide capital to startups in exchange for equity.

8. **Cryptocurrencies:** Digital assets like Bitcoin and other cryptocurrencies are considered alternative investments. They operate outside the traditional financial system and can be highly volatile.

9. **Art and Collectibles:** Investments in art, antiques, and collectibles can be considered alternative. The value of these assets may appreciate based on factors such as rarity, historical significance, and demand from collectors.

Alternative investments are often sought by investors looking to diversify their portfolios and potentially achieve higher returns. However, they often come with higher risk and less liquidity compared to traditional investments. Additionally, many alternative investments may have higher fees and may require a more sophisticated understanding of the market.

Investors considering alternative investments should carefully assess their risk tolerance, investment goals, and conduct thorough due diligence. Due to their complexity, it’s often recommended to consult with financial professionals or advisors with expertise in alternative investments.