CAIA Association Unveils Shift in Curriculum Content, New Delivery System to Align With Historic Growth in Private Market Investing

October 04, 2021 at 08:57 AM EDT

Expanded focus on private capital, including PE, VC, real estate and private debt, reflects the essential role that private market investing continues to play for asset allocators

CAIA continues to lead the industry in embracing technology in the testing and preparation process, allowing for connections with a rapidly expanding pool of candidates around the world

The Chartered Alternative Investment Analyst (CAIA) Association, the professional body for the global alternative investment industry, today unveiled some significant updates and a new format for its 2022 exam curriculum.

“To build a portfolio for the future, allocators are increasingly turning to opportunities in the private markets, and private equity, venture capital, real estate and private debt are clearly playing growing roles in institutional approaches large and small,” said John Bowman, Executive Vice President of the CAIA Association. “To help investment professionals ensure that they have the highest level of insight and education, it is imperative that we at CAIA not only keep ahead of the rate of change impacting the alternative investment space, but that we lead through the programs we are building, and we are very excited to be announcing these enhancements to our industry-leading curriculum.”

In concert with the start of the registration period for CAIA’s March 2022 exam cycle (with registration now open as of today), the organization is making specific updates to both its Level I and Level II exams:

The Level I curriculum now includes extensive new sections that include such topics as The Evolution of Investing in Private Equity, Private Equity and Venture Capital Valuation and Exit Strategies, and insights into such emerging areas as Subscription Lines of Credit and Venture Debt.
Level II has been updated to include new materials focused on Private Wealth Management (particularly amidst the continued democratization of access to alternatives), Diversification in Private Equity Real Estate, and Qualitative Due Diligence and Emerging Managers.

“This is one of the most significant enhancements we have made across both levels of our curriculum in the history of CAIA,” added William Kelly, CEO of the CAIA Association. “It is also one of the most timely. The push/pull dynamic of so many investment opportunities migrating to the private markets, coupled with the increasing access to private market investing that is upending traditional asset management and portfolio construction, make this an essential time for everyone in our industry to ensure they have the grounding and the knowledge to manage so much change while also delivering the types of investor-centric outcomes to which our industry should aspire.”

In keeping with CAIA’s highly successful shift to a hybrid testing model during the ongoing COVID-19 pandemic, the organization is also announcing today that all curriculum materials will be made available either in a digital-first format or as a digital + print combination. The digital-first delivery option facilitates automatic refreshing of the annual curriculum changes for candidates across their journey, which CAIA expects to approximate 15-20% per year. It also simplifies access for any candidate around the world who wants to work toward the CAIA Charter to have the tools and the access they need to make that goal a reality.

“The shift to digital approaches in the testing and credentialing space is undeniable, and we were thrilled with the response to our move to online proctoring last year,” continued Bowman. “The addition of modular, digital availability of curriculum is yet another step towards our vision of making the CAIA curriculum the ‘operating system’ for the profession.”

About the CAIA Association

CAIA Association is a global professional credentialing body dedicated to creating greater alignment, transparency, and knowledge for all investors, with a specific emphasis on alternative investments. A Member-driven organization representing more than 11,000 professionals in more than 100 countries, CAIA Association advocates for the highest ethical standards. The organization provides unbiased insight on a broad range of investment strategies and industry issues, key among them being efforts to bring greater diversification to portfolio construction decisions to achieve better long-term investor outcomes. To learn more about the CAIA Association and how to become part of the organization’s mission, please visit https://caia.org/.