Alternative Investments

Q: What are alternative investments?

Alternative investments, also called alternative assets, refer to investments in either a tangible or financial asset primarily within private markets, excluding traditional investments such as stocks, bonds and cash.

Q: What are the different types of alternative investments?

The most common types include private equity, real assets, private credit and hedge funds. These are commonly known as active, return-seeking strategies that have varied risk profiles, and differ from traditional, long-only investments.

Q: Why alternative investments?

Alternative investments can help investors grow wealth, diversify portfolios and potentially uncover non-traditional return potential in a low yield market. As the “traditional” mix of stocks and bonds may no longer provide the return potential investors need to reach their goals, alternative investments are becoming increasingly useful portfolio building blocks. We can help investors get started with J.P. Morgan Private Bank’s alternatives investment platform.

Q: What some types of alternative investments to consider for 2026?

The types of alternative investments to consider depend on an investor’s individual financial goals, risk tolerance and portfolio needs. Options may include private equity, private credit, real assets, hedge funds and venture capital. We recommend investors work with an advisor to determine the most suitable alternatives for their situation.

Q: What are liquid alternative investments?

Liquid alternative investments are investment products that provide exposure to alternative asset classes, such as hedge fund strategies or commodities, but can be bought or sold more easily than traditional alternatives, often through mutual funds or ETFs.

Q: How to invest in alternative investments

Investing in alternative investments typically requires working with a financial advisor or private bank, meeting eligibility requirements and selecting products that align with your investment objectives. Due diligence and understanding the risks involved are essential.

Q: Where can alternative investments fit in a portfolio?

In a diversified portfolio, alternatives can serve as either: <ul> <li>Diversifiers: strategies that aim to hedge volatility and add potential resilience across cycles. </li> </ul> <ul> <li>Return sources: strategies that seek differentiated growth or potential income over longer horizons. </li> </ul>

Q: How do investors decide how much to allocate to alternatives?

Investors must consider their goals, risk tolerance, liquidity needs, taxes, and time horizon. Working with their financial professionals, an investor can map roles, set guardrails for illiquidity, and pace commitments over time. Sizing also accounts for the difference between “committed” and “invested” capital, expected cash flows, and rebalancing needs.

Alternative investments are assets outside traditional public equity and fixed income markets, including private equity, private credit, real estate, infrastructure, hedge funds, and commodities. Investors add alternatives to diversify their portfolio, seek potential sources of higher returns, generate income, or mitigate inflation across market cycles.

As one of the largest alternatives allocators, we have deep experience helping clients navigate the vast world of alternatives. With unique insights, access and scale, our global team can help craft a strategy shaped around an investor’s dynamic goals.

Let’s Talk Alternatives

Alternative Investing Insights

Discover Alternative Investing Insights—your destination for exclusive perspectives and topical webcasts. Explore curated content built to help inform you of the evolving landscape of alternative investments.

EXPLORE OUR INSIGHTS

We can help you navigate the complexities of alternatives

A specialized, global team

Our dedicated team of nearly 300 alternative investments specialists oversee over $227 billion in client commitments, with specialties ranging from fund due diligence to manager selection.¹

Bespoke access

Our unique network of relationships has extensive reach. We regularly tap into institutional-level opportunities, and build innovative access points to premier funds across the industry.

Strategic insight

We conduct rigorous research and thousands of manager and client meetings annually to develop long-term strategic views as well as nimble, opportunities ideas.

Explore the world of alternatives

Private Equity

Buying ownership in private companies through funds that help them grow or restructure.

Private Credit

Company loans arranged privately with investors (instead of public bonds or banks).

Real Assets

Physical, assets-real estate, infrastructure like roads and airports, and natural resources.

Hedge Funds

Private investment funds that use flexible trading approaches across many markets.

Meet the Alternative Investments Team

Kristin Kallergis Rowland

Global Head of Alternative Investments

Jay Serpe

Global Head of Alternative Investments, Strategy & Business Development

Anton Pil

Head of J.P. Morgan Global Alternative Investment Solutions

Sergio Pawlak

Executive Director, Head of Institutional Access Funds for J.P.Morgan Private Bank

Kirk Haldeman, CFA®

Global Head of Morgan Private Ventures

Sitara Sundar

Head of Alternative Investment Strategy & Market Intelligence

Jasmine Green-Hogan

Alternative Investment Specialist

Latest insights

Investment Strategy Apr 2, 2026

Exploring opportunities in the 2026 Alternatives landscape

Explore how investors are navigating alternative allocations amid today's evolving market landscape.

Economy & Markets Aug 28, 2026

The new strategic investment case for emerging markets

Economy & Markets Aug 28, 2026

U.S. earnings are exceptional. Stocks are playing catch-up.

What are alternative investments?

What are the different types of alternative investments?

Why alternative investments?

What some types of alternative investments to consider for 2026?

What are liquid alternative investments?

How to invest in alternative investments

Where can alternative investments fit in a portfolio?

How do investors decide how much to allocate to alternatives?

Talk to our J.P. Morgan Team to learn more about Alternative Investing

Let’s talk

As of March 2026.

KEY RISKS

Investing in alternative assets involves higher risks than traditional investments, including, without limitation, limited liquidity and valuation risk, and is suitable only for investors with sufficient knowledge and sophistication to evaluate the merits and risks of such investments. Alternative investments should not be deemed a complete investment program and distributions are not guaranteed. They may not be tax efficient, and an investor should consult with their tax professional prior to investing. Alternative investments often have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the investment loss or gain--including risk of loss of the entire investment. For comprehensive details around unique set of risks for specific alternative investments, please consult the offering memorandum.

Investments in commodities may have greater volatility than investments in traditional securities, particularly if the instruments involve leverage. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Use of leveraged commodity-linked derivatives creates an opportunity for increased return but, at the same time, creates the possibility for greater loss.

Private investment funds (including, without limitation, hedge funds, funds of hedge funds, private equity funds, real estate funds, etc.) are subject to special risks, including risk of loss of the entire investment and is suitable only for investors with sufficient knowledge and sophistication to evaluate the merits and risks of such investments. As a reminder, private investment funds often engage in leveraging and other speculative investment practices that may increase the risk of investment loss. These investments can be highly illiquid, and may not be required to provide periodic pricing or valuation information to investors, and may involve complex tax structures and delays in distributing important tax information. Distributions are not guaranteed and may be modified at the Fund Board’s discretion. These investments are not subject to the same regulatory requirements as mutual funds; and often charge high fees (performance fees in addition to management fees). Further, any number of conflicts of interest may exist in the context of the management and/or operation of any such fund. For comprehensive details around unique set of risks for specific alternative investments, please refer to the applicable offering memorandum.

Important Information

This material is for informational purposes only, and may inform you of certain products and services offered by private banking businesses, part of JPMorgan Chase & Co. (“JPM”). Products and services described, as well as associated fees, charges and interest rates, are subject to change in accordance with the applicable account agreements and may differ among geographic locations. Not all products and services are offered at all locations. Please read all Important Information.

GENERAL RISKS & CONSIDERATIONS

Any views, strategies or products discussed in this material may not be appropriate for all individuals and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. Asset allocation/diversification does not guarantee a profit or protect against loss. Nothing in this material should be relied upon in isolation for the purpose of making an investment decision. You are urged to consider carefully whether the services, products, asset classes (e.g., equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with an investment service, product or strategy prior to making an investment decision. For this and more complete information, including discussion of your goals/situation, contact your J.P. Morgan team.

NON-RELIANCE

Certain information contained in this material is believed to be reliable; however, JPM does not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of this material. No representation or warranty should be made with regard to any computations, graphs, tables, diagrams or commentary in this material, which are provided for illustration/reference purposes only. The views, opinions, estimates and strategies expressed in this material constitute our judgment based on current market conditions and are subject to change without notice. JPM assumes no duty to update any information in this material in the event that such information changes. Views, opinions, estimates and strategies expressed herein may differ from those expressed by other areas of JPM, views expressed for other purposes or in other contexts, and this material should not be regarded as a research report. Any projected results and risks are based solely on hypothetical examples cited, and actual results and risks will vary depending on specific circumstances. Forward-looking statements should not be considered as guarantees or predictions of future events.

Nothing in this document shall be construed as giving rise to any duty of care owed to, or advisory relationship with, you or any third party. Nothing in this document shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by J.P. Morgan and/or its officers or employees, irrespective of whether or not such communication was given at your request. J.P. Morgan and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions.