The Equalified Alternatives Strategist (EAS) is Equalifi’s advanced professional designation for those who want to move beyond understanding alternative-investment products and learn to evaluate, structure and apply them within real-world portfolios. The programme covers private equity, venture capital, private credit, real estate, infrastructure, hedge funds, structured products, family-office allocation, fund economics, valuation, due diligence, risk management, ESG and technology-enabled investing.
The EAS assesses practical investment judgement, not theoretical knowledge alone. The designation is earned across three levels: an MCQ examination, an applied project and a viva. Together, they test a candidate’s ability to analyse an investment opportunity, prepare a due-diligence memorandum, construct an alternatives portfolio and respond to professional and ethical scenarios. The designation is intended for professionals working with family offices, institutional allocators, fund managers, wealth businesses, investment committees and private-capital platforms.
Two awards, one pathway
| Award | Levels required | What it recognises |
|---|---|---|
| Certified Alternative Investment Manager (AIM) | Level 1: MCQ Examination | Structured knowledge of alternative asset classes, fund structures, investment strategies, due diligence, portfolio considerations and risk |
| Equalified Alternatives Strategist (EAS) | Levels 1, 2 and 3: MCQ Examination, Project and Viva | The ability to apply that knowledge to real investment decisions, with sound professional and ethical judgement |
Candidates may stop after Level 1 and hold the AIM certification, or continue to Levels 2 and 3 to earn the EAS designation.
Who should take the EAS?
Investment and wealth professionals, family-office teams, AIF and fund professionals, analysts, advisers and other finance practitioners who wish to demonstrate structured knowledge of alternative investments and the judgement to apply it.
Important
The Certified Alternative Investment Manager (AIM) certification and the EAS designation are educational qualifications awarded by Equalifi. They do not constitute a regulatory licence or authorisation to provide investment advice, manage funds or distribute financial products.
image
Exam details
The EAS is assessed across three levels, taken in sequence.
Level 1: MCQ examination
The Level 1 examination assesses understanding of alternative asset classes, fund structures, investment strategies, due diligence, portfolio considerations and risk. Passing Level 1 earns the Certified Alternative Investment Manager (AIM) certification.
Equalifi offers the Level 1 examination through an external, remote-proctored platform. Once registration and payment are confirmed, candidates receive an exam link by email. Candidates may schedule and take the exam at any time within one year of registration, subject to the platform’s requirements.
Candidates need a reliable internet connection and a computer with a working camera. Please read the technical and exam-day instructions before beginning the exam.
Level 2: Project
Candidates who pass Level 1 progress to the project, which is based on a case study set by Equalifi. Candidates prepare:
- a due-diligence memorandum on an alternative investment opportunity, and
- a portfolio allocation note setting out how the opportunity fits within a wider alternatives portfolio.
Equalifi shares the project brief, submission guidelines and evaluation criteria with each candidate.
Level 3: Viva
Candidates who pass the project are invited to a viva with an Equalifi assessment panel. The viva covers the candidate’s project, their investment reasoning and their response to a professional and ethical scenario. Candidates who pass the viva are awarded the EAS designation.
image
Assessment structure
| Level | Assessment | Award on completion | Format | Duration | No. of questions | Passing criteria | Negative marking |
|---|---|---|---|---|---|---|---|
| 1 | MCQ Examination | Certified Alternative Investment Manager (AIM) | Online, remote-proctored | 2 hours | 100 | 60% | 20% per incorrect answer |
| 2 | Project | — | Written submission (due-diligence memorandum and portfolio allocation note) | As per project brief | — | 60% | — |
| 3 | Viva | Equalified Alternatives Strategist (EAS) | Oral assessment (online or in person) | As scheduled | — | 60% | — |
Candidate audit
Equalifi audits a percentage of applications at random on a regular basis. Candidates are responsible for providing the requested supporting documentation to verify the education and professional background stated in their registration form. Equalifi does not contact employers or educational institutions to obtain verification documents on a candidate’s behalf.
Candidates selected for audit are notified by email and have 10 business days to respond. They must meet the audit requirements before receiving the AIM certification or the EAS designation.
Failure to comply with the audit, falsification or misrepresentation of information, or any unprofessional conduct will result in denial or cancellation of the registration and/or revocation of the certification or designation, and all fees will be forfeited. A candidate who does not comply with an audit will also be subject to audit when reapplying in future.
image
Fee details
| Route | Fee |
|---|---|
| Certified Alternative Investment Manager (AIM) (Level 1) | INR 3,540 |
| Equalified Alternatives Strategist (EAS) (Levels 1, 2 and 3) | INR 17,700 |
Fees are inclusive of GST. The Level 1 examination fee applies to each attempt.
Access Pass benefits
Fee waiver: Equalifi Chartered, Professional and Virtual Pass holders receive a 50% waiver on the exam fee.
Learn more about the Equalifi Access Pass here.
Exam preparation: For stronger exam readiness, candidates are encouraged to join the Alternative Investment Leaders Cohort, Equalifi’s executive education programme in alternatives. Access Pass holders receive a fee waiver of 10% to 50%, depending on their pass category.