A New Market Demands New Investment Skills.
The line between "traditional" and "alternative" has vanished. To stay relevant, you need more than data—you need the technical fluency and ethical judgment to navigate what’s happening in the markets now, not models frozen in time. The CAIA Charter expands your capabilities across private markets, hedge funds, and real assets—while building the portfolio construction skills needed to put them to work.
Master the New Script
Go beyond the basics to decode the systems shaping the future of capital.
Rewire Your Strategy
Move past outdated models with insights built for today’s volatility.
Own the Edge
Evaluate risk through a sharper lens and find resilience where others see only uncertainty.
- CAIA Ethical Principles
- Introduction to Alternative Investments
- Real Assets
- Private Equity
- Private Debt
- Hedge Funds
- Digital Assets
- Funds of Funds
- CAIA Ethical Principles
- Institutional Asset Owners
- Asset Allocation
- Risk and Risk Management
- Methods and Models
- Accessing Alternative Investments
- Due Diligence and Selecting Managers
- Volatility and Complex Strategies
- Universal Investment Considerations
- Emerging Topics
The CAIA 2026 Curriculum:
Built for Reality, Not Theory.
CAIA has retired the clutter to make room for what actually moves the needle in today's portfolios.
Real-Time Ethics
A codified standard for making tough calls in a fractured market.
Growth Equity
Master the deal structures and valuations driving institutional portfolios.
Strategic Rebalancing
Modern tools for handling illiquid assets when markets shift fast.
Digital Integration
Alternative investing is no longer alternative. It’s part of the core.
Defining Ethics in Alternative Investing.
In an era defined by complexity and global risk, alternative investments often operate where market precedent is unclear. Rather than simply teaching existing ethics, CAIA has defined the ethical framework for this environment through our eight core principles. Fully integrated into our curriculum, these principles give the program its ethical foundation—supporting a charter recognized in over 100 countries and preparing investment professionals to apply sound judgment where it matters most.
Join 14,000+ global experts leading the alternative investment industry.
Earning the CAIA Charter is a commitment—usually about 200 hours of study per level—but you won't be doing it alone. You’re joining a global network of professionals who are all working toward the same goal: setting a higher standard for expertise in alternative investments.
Frequently Asked Questions
The CAIA curricula are written and prepared by the CAIA Association and are the only resource used to write exams. Program materials are reviewed and updated annually by industry experts and practitioners. For your convenience, the Level I and Level II curriculum is available in digital format and included with each new Candidate registration. You may also purchase a print version here.
The Level I CAIA Exam will be administered from August 31, 2026 – September 11, 2026; the Level II CAIA Exam window is from September 14, 2026 – September 25, 2026.
Registration for the September 2026 exams is available from April 13, 2026 – August 3, 2026. A US$400 discount applies for early registrations completed by June 8, 2026.
A minimum of 200 hours of study time is recommended for each exam level. The Level I and Level II exams are offered twice each year, in September and March, giving Candidates the opportunity to complete the CAIA program within a single year, should they choose to do so.
After passing the Level II exam you are eligible, with relevant professional experience, to join the CAIA Association as a Member and receive the CAIA Charter. You will be part of an elite group of more than 14,000 professionals worldwide. Only after joining the Association are you eligible to add the CAIA designation to your professional profiles.
For first-time Level I registrants, there is a one-time, non-refundable enrollment fee of US$400 plus a standard registration cost of US$1,395, that includes the digital curriculum. Learn more about our early registration and fee policies here.
The CAIA (Chartered Alternative Investment Analyst) Association is the leading professional body for alternative investment education and credentialing. The organization supports the global investment industry by offering the CAIA Charter and a portfolio of education, research, and thought-leadership initiatives.