An alternative investment is a financial asset that does not fall into one of the conventional investment categories. Conventional categories include stocks, bonds, and cash. Alternative investments include private equity or venture capital, hedge funds, managed futures, art and antiques, commodities, and derivatives contracts. Real estate is also often classified as an alternative investment.

"An alternative investment is an investment in any asset class excluding stocks, bonds, and cash.[1] The term is a relatively loose one and includes tangible assets such as precious metals,[2] art,[3] wine, antiques, coins, or stamps[4] and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits,[5] venture capital, film production,[6] financial derivatives, and cryptocurrencies. Investments in real estate, forestry and shipping are also often termed ""alternative"" despite the ancient use of such real assets to enhance and preserve wealth.[7] In the last century, fancy color diamonds have emerged as an alternative investment class as well.[8] Alternative investments are to be contrasted with traditional investments."