Alternative investments are playing an increasingly central role in global portfolios as investors search for growth, diversification, and downside protection beyond traditional equities and bonds. From private equity and private credit to real assets and infrastructure, these strategies are evolving rapidly amid shifting macroeconomic conditions, rising liquidity demands, and heightened transparency expectations. Innovation is reshaping how capital is raised, allocated, and deployed—spanning secondaries, co-investments, and the tokenization of private markets. As capital flows accelerate across regions, investors face questions about where risk-adjusted returns are most compelling and how to navigate greater competition and regulatory scrutiny. How can allocators balance liquidity, transparency, and performance as alternatives scale? Where will innovation unlock the next wave of opportunity in private markets?