This course explores the critical role of private markets and alternative investments in enhancing multi-asset portfolios. It examines the strategic allocation of capital to private equity, private credit, and other alternative investment classes, offering a thorough understanding of their advantages and potential risks. Students will analyze how fee structures and leverage influence investor returns, and will explore various types of private market investments. The course also compares investment approaches and ownership models commonly employed in this field. Moreover, it provides practical insights into risk mitigation, portfolio design, and the complexities of evaluating performance within private market and alternative investment contexts.