This topic is covered under LOS C of reading 58, which requires you to 'describe potential benefits of alternative investments in the context of portfolio management'.
Hedge Funds, Private Equity, Real Estate, Commodities, Infrastructure, and Other Investment – Explained
This topic is covered under LOS D and E of Reading 50, which requires us to:
a. describe hedge funds, private equity, real estate, commodities, infrastructure, and other alternative investments, including, as applicable, strategies, subcategories, potential benefits and risks, fee structures, and due diligence;
b. describe, calculate, and interpret management and incentive fees and net-of-fees returns to hedge funds; and
c. describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure.