I want to understand the classification of modern alternative assets. I have come across a term "marketable alternative asset", it includes long/short - US/global -equity/debt - hedge funds, convertable arbitrage, distressed debts, event (M&A, corporate actions) arbitrage, market neutral, capital structure arbitrage, fund of funds! However, there are other assets that are not mentioned to be marketable alternative assets: PE, real estate, venture capital. What is the basis for such a distinction?
PS: How should one classify the investments in equity traches of CDOs? Is it an alternative investment at all?
PS: How should one classify the investments in equity traches of CDOs? Is it an alternative investment at all?