The CAIA designation, offered by the CAIA Association, is a leading certification for professionals specializing in alternative investments. It covers private equity, hedge funds, real assets, structured products, and risk management. To earn the CAIA designation, candidates must pass two levels of exams focused on alternative investment knowledge, ethics, and professional standards. The CAIA is highly regarded in asset management, particularly for roles involving portfolio management, risk assessment, and due diligence in alternative asset classes.