{"id":10797,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm3\/"},"modified":"2026-09-22T07:44:06","modified_gmt":"2026-09-21T22:44:06","slug":"cfa-l1-alt-lm3","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm3\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L1 Alternatives LM3\u3011Investments in Private Capital: Equity and Debt \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u30fb\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u30fb\u30a8\u30b0\u30b8\u30c3\u30c8\u6226\u7565\u30fb\u5206\u6563\u52b9\u679c"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 3\u300cInvestments in Private Capital: Equity and Debt\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\uff09\u300d\u306f\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3068\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u306e\u7279\u5fb4\u3068\u6295\u8cc7\u7279\u6027\u3001\u30a8\u30b0\u30b8\u30c3\u30c8\u6226\u7565\u3001\u305d\u3057\u3066\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u304c\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u3082\u305f\u3089\u3059\u5206\u6563\u52b9\u679c\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM3\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM3\u306b\u306f3\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u306e\u7279\u5fb4\u3068\u305d\u306e\u6295\u8cc7\u7279\u6027\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain features of private equity and its investment characteristics<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u306e\u7279\u5fb4\u3068\u305d\u306e\u6295\u8cc7\u7279\u6027\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain features of private debt and its investment characteristics<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u304c\u3082\u305f\u3089\u3057\u5f97\u308b\u5206\u6563\u52b9\u679c\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe the diversification benefits that private capital can provide<\/span><\/li>\n<\/ol>\n<h2>LM3\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u306f\u3001\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u3084\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8\uff08LBO\uff09\u30d5\u30a1\u30f3\u30c9\u306a\u3069\u516c\u958b\u5e02\u5834\u306e\u5916\u304b\u3089\u4f9b\u7d66\u3055\u308c\u308b\u8cc7\u91d1\u3067\u3001\u69cb\u60f3\u6bb5\u968e\u304b\u3089\u4e0a\u5834\u306b\u81f3\u308b\u307e\u3067\u3001\u4e8b\u696d\u306e\u3055\u307e\u3056\u307e\u306a\u6bb5\u968e\u3067\u6295\u5165\u3055\u308c\u308b<\/li>\n<li>\u6295\u8cc7\u671f\u9593\u306f\u3055\u307e\u3056\u307e\u3067\u3001\u30a8\u30b0\u30b8\u30c3\u30c8\u306f\u6226\u7565\u7684\u8cb7\u3044\u624b\u3078\u306e\u58f2\u5374\uff08\u30c8\u30ec\u30fc\u30c9\u30fb\u30bb\u30fc\u30eb\uff09\u3084IPO\u30fbSPAC\u3092\u901a\u3058\u305f\u4e0a\u5834\u304c\u5178\u578b\u7684\u3002\u307b\u304b\u306b\u30ea\u30ad\u30e3\u30d4\u30bf\u30ea\u30bc\u30fc\u30b7\u30e7\u30f3\u3001\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30bb\u30fc\u30eb\u3001\u6e05\u7b97\u304c\u3042\u308a\u3001\u305d\u308c\u305e\u308c\u306b\u9577\u6240\u3068\u77ed\u6240\u304c\u3042\u308b<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u306f\u4f1d\u7d71\u7684\u6295\u8cc7\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u3068\u9ad8\u3044\u30ea\u30b9\u30af\u3092\u4f34\u3044\u5f97\u308b\u3002\u305d\u306e\u80cc\u666f\u306f\u72ec\u81ea\u306e\u6295\u8cc7\u5bfe\u8c61\u3001\u7d4c\u55b6\u3078\u306e\u5927\u304d\u306a\u95a2\u4e0e\u3001\u5927\u304d\u306a\u30ec\u30d0\u30ec\u30c3\u30b8\u3002\u4e00\u65b9\u3067\u30c7\u30fc\u30bf\u306e\u66d6\u6627\u3055\u306b\u3088\u308a\u52b9\u679c\u3092\u78ba\u5b9f\u306b\u6e2c\u308b\u306e\u306f\u96e3\u3057\u3044<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u306f\u6295\u8cc7\u5bb6\u304c\u975e\u516c\u958b\u4f01\u696d\u306b\u76f4\u63a5\u63d0\u4f9b\u3059\u308b\u8ca0\u50b5\u3067\u3001\u4e3b\u306a\u985e\u578b\u306f\u30c0\u30a4\u30ec\u30af\u30c8\u30fb\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0\u3001\u30e1\u30b6\u30cb\u30f3\u30fb\u30ed\u30fc\u30f3\u3001\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30c7\u30c3\u30c8\u3001\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u30fb\u30c7\u30c3\u30c8\u3002\u30e6\u30cb\u30c8\u30e9\u30f3\u30b7\u30a7\u306a\u3069\u3082\u542b\u3080<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u306f\u4f1d\u7d71\u7684\u306a\u50b5\u5238\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u3068\u30ea\u30b9\u30af\u3092\u6301\u3061\u5f97\u3066\u3001\u62c5\u4fdd\u3084\u30b3\u30d9\u30ca\u30f3\u30c4\u306b\u3088\u308b\u4fdd\u8b77\u304c\u4ed8\u304f\u3053\u3068\u304c\u591a\u3044\u3002\u4f01\u696d\u306e\u8cc7\u91d1\u8abf\u9054\u6bb5\u968e\u3084\u8ca0\u50b5\u69cb\u9020\u3001\u88cf\u4ed8\u3051\u8cc7\u7523\u306e\u9055\u3044\u3092\u7406\u89e3\u3059\u308b\u5c02\u9580\u77e5\u8b58\u304c\u5fc5\u8981<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u306f\u975e\u6d41\u52d5\u6027\u30fb\u96c6\u4e2d\u30ea\u30b9\u30af\u306a\u3069\u306b\u3088\u308a\u516c\u958b\u5e02\u5834\u306e\u540c\u7a2e\u8cc7\u7523\u3068\u306f\u30ea\u30b9\u30af\u3068\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u7570\u306a\u308b\u3002\u30d5\u30a1\u30f3\u30c9\u8a2d\u5b9a\u6642\u306e\u8a55\u4fa1\u6c34\u6e96\u3068\u7d4c\u6e08\u74b0\u5883\uff08\u30d3\u30f3\u30c6\u30fc\u30b8\u30fb\u30a4\u30e4\u30fc\uff09\u304c\u5b9f\u73fe\u30ea\u30bf\u30fc\u30f3\u306b\u5927\u304d\u304f\u5f71\u97ff\u3059\u308b\u305f\u3081\u3001\u30d3\u30f3\u30c6\u30fc\u30b8\u306e\u5206\u6563\u304c\u6709\u52b9<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3068\u30c7\u30c3\u30c8\u3092\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u53d6\u308a\u5f97\u3066\u3001\u4e0a\u5834\u682a\u5f0f\u30fb\u50b5\u5238\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u3068\u4e00\u5b9a\u306e\u5206\u6563\u52b9\u679c\u3068\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u306e\u6a5f\u4f1a\u3092\u3082\u305f\u3089\u3057\u5f97\u308b<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u306e\u7279\u5fb4\u3068\u6295\u8cc7\u7279\u6027<\/h3>\n<p><strong>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3<\/strong>\u306f\u975e\u516c\u958b\u4f01\u696d\u306e\u682a\u5f0f\u3078\u306e\u6295\u8cc7\u3067\u3001\u4ee3\u8868\u7684\u306a\u6226\u7565\u306f<strong>\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8\uff08LBO\uff09<\/strong>\u3001<strong>\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb<\/strong>\u3001\u30b0\u30ed\u30fc\u30b9\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3067\u3059\u3002\u7d4c\u55b6\u3078\u306e\u95a2\u4e0e\u3068\u30ec\u30d0\u30ec\u30c3\u30b8\u306b\u3088\u3063\u3066\u4fa1\u5024\u3092\u9ad8\u3081\u3001\u30c8\u30ec\u30fc\u30c9\u30fb\u30bb\u30fc\u30eb\u3084IPO\u306a\u3069\u3067\u30a8\u30b0\u30b8\u30c3\u30c8\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>LBO\uff1a\u591a\u984d\u306e\u501f\u5165\u3067\u4f01\u696d\u3092\u8cb7\u53ce\uff08MBO\u3001MBI\u3092\u542b\u3080\uff09<\/li>\n<li>\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\uff1a\u6bb5\u968e\uff08\u30d7\u30ec\u30b7\u30fc\u30c9\u30fb\u30b7\u30fc\u30c9\u3001\u30a2\u30fc\u30ea\u30fc\u3001\u30ec\u30a4\u30bf\u30fc\uff09\u3054\u3068\u306b\u6295\u8cc7<\/li>\n<li>\u30b0\u30ed\u30fc\u30b9\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\uff1a\u6210\u9577\u8cc7\u91d1\u3092\u5fc5\u8981\u3068\u3059\u308b\u6bd4\u8f03\u7684\u6210\u719f\u3057\u305f\u4f01\u696d\u306e\u5c11\u6570\u6301\u5206\u3078\u306e\u6295\u8cc7<\/li>\n<li>\u30a8\u30b0\u30b8\u30c3\u30c8\uff1a\u30c8\u30ec\u30fc\u30c9\u30fb\u30bb\u30fc\u30eb\u3001IPO\u30fbSPAC\u3001\u30ea\u30ad\u30e3\u30d4\u30bf\u30ea\u30bc\u30fc\u30b7\u30e7\u30f3\u3001\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30bb\u30fc\u30eb\u3001\u6e05\u7b97<\/li>\n<li>\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u306e\u6e90\u6cc9\uff1a\u72ec\u81ea\u306e\u6295\u8cc7\u6a5f\u4f1a\u3001\u7d4c\u55b6\u3078\u306e\u95a2\u4e0e\u3001\u30ec\u30d0\u30ec\u30c3\u30b8<\/li>\n<li>\u30ea\u30b9\u30af\uff1a\u975e\u6d41\u52d5\u6027\u3001\u96c6\u4e2d\u3001\u8a55\u4fa1\u306e\u4e0d\u78ba\u5b9f\u6027<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8\u306e\u7279\u5fb4\u3068\u6295\u8cc7\u7279\u6027<\/h3>\n<p><strong>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30c7\u30c3\u30c8<\/strong>\u306f\u975e\u516c\u958b\u4f01\u696d\u306a\u3069\u3078\u306e\u8cb8\u4ed8\u3067\u3001<strong>\u30c0\u30a4\u30ec\u30af\u30c8\u30fb\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0<\/strong>\u3001<strong>\u30e1\u30b6\u30cb\u30f3\u30fb\u30ed\u30fc\u30f3<\/strong>\u3001<strong>\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30c7\u30c3\u30c8<\/strong>\u3001<strong>\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u30fb\u30c7\u30c3\u30c8<\/strong>\u304c\u4e3b\u306a\u985e\u578b\u3067\u3059\u3002\u4f1d\u7d71\u7684\u306a\u50b5\u5238\u3088\u308a\u9ad8\u3044\u5229\u56de\u308a\u304c\u671f\u5f85\u3067\u304d\u308b\u53cd\u9762\u3001\u4fe1\u7528\u30ea\u30b9\u30af\u3084\u6d41\u52d5\u6027\u30ea\u30b9\u30af\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30c0\u30a4\u30ec\u30af\u30c8\u30fb\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0\uff1a\u9280\u884c\u3092\u4ecb\u3055\u305a\u76f4\u63a5\u8cb8\u4ed8\u3001\u901a\u5e38\u306f\u30b7\u30cb\u30a2\u30fb\u62c5\u4fdd\u4ed8\u304d<\/li>\n<li>\u30e1\u30b6\u30cb\u30f3\u30fb\u30ed\u30fc\u30f3\uff1a\u30b7\u30cb\u30a2\u50b5\u3088\u308a\u52a3\u5f8c\u3001\u30ef\u30e9\u30f3\u30c8\u306a\u3069\u306e\u682a\u5f0f\u6027\u3092\u4f34\u3046\u3053\u3068\u304c\u591a\u3044<\/li>\n<li>\u30d9\u30f3\u30c1\u30e3\u30fc\u30fb\u30c7\u30c3\u30c8\uff1a\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u5411\u3051\u306e\u8cb8\u4ed8<\/li>\n<li>\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u30fb\u30c7\u30c3\u30c8\uff1a\u7d4c\u55b6\u96e3\u306e\u4f01\u696d\u306e\u8ca0\u50b5\u3092\u5272\u5b89\u3067\u53d6\u5f97<\/li>\n<li>\u30e6\u30cb\u30c8\u30e9\u30f3\u30b7\u30a7\uff1a\u30b7\u30cb\u30a2\u3068\u52a3\u5f8c\u3092\u307e\u3068\u3081\u305f\u5358\u4e00\u306e\u878d\u8cc7<\/li>\n<li>\u62c5\u4fdd\u30fb\u30b3\u30d9\u30ca\u30f3\u30c4\u306b\u3088\u308b\u4fdd\u8b77\u3001\u5229\u606f\u3068\u5143\u672c\u8fd4\u6e08\u304c\u30ea\u30bf\u30fc\u30f3\u306e\u4e2d\u5fc3<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u306e\u5206\u6563\u52b9\u679c<\/h3>\n<p>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u306f\u516c\u958b\u5e02\u5834\u3068\u306f\u7570\u306a\u308b\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u7279\u6027\u3092\u6301\u3061\u3001\u4e0a\u5834\u682a\u5f0f\u30fb\u50b5\u5238\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067<strong>\u4e00\u5b9a\u306e\u5206\u6563\u52b9\u679c<\/strong>\u3092\u3082\u305f\u3089\u3057\u5f97\u307e\u3059\u3002\u305f\u3060\u3057\u5831\u544a\u3055\u308c\u308b\u30ea\u30bf\u30fc\u30f3\u306f\u8a55\u4fa1\u306e\u5e73\u6ed1\u5316\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b\u305f\u3081\u3001\u76f8\u95a2\u306f\u5b9f\u614b\u3088\u308a\u4f4e\u304f\u898b\u3048\u3084\u3059\u3044\u70b9\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u8cc7\u672c\u69cb\u6210\u306e\u968e\u5c64\uff08\u30b7\u30cb\u30a2\u30fb\u30c7\u30c3\u30c8 \u2192 \u30e1\u30b6\u30cb\u30f3 \u2192 \u30a8\u30af\u30a4\u30c6\u30a3\uff09\u306b\u3088\u3063\u3066\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u304c\u7570\u306a\u308b<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3068\u30c7\u30c3\u30c8\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3092\u8abf\u6574<\/li>\n<li>\u30d3\u30f3\u30c6\u30fc\u30b8\u30fb\u30a4\u30e4\u30fc\uff1a\u30d5\u30a1\u30f3\u30c9\u8a2d\u5b9a\u6642\u306e\u74b0\u5883\u304c\u5b9f\u73fe\u30ea\u30bf\u30fc\u30f3\u306b\u5f71\u97ff<\/li>\n<li>\u30d3\u30f3\u30c6\u30fc\u30b8\u306e\u5206\u6563\u3067\u3001\u666f\u6c17\u5faa\u74b0\u306e\u60aa\u3044\u6642\u671f\u306e\u8a2d\u5b9a\u306b\u3088\u308b\u5f71\u97ff\u3092\u7de9\u548c<\/li>\n<li>\u4e0a\u4e57\u305b\u30ea\u30bf\u30fc\u30f3\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u3084\u975e\u6d41\u52d5\u6027\u306a\u3069\u306e\u30ea\u30b9\u30af\u3092\u8ca0\u3046\u5bfe\u4fa1<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/present1\/\" target=\"_blank\" rel=\"noopener\">Level 1 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm2\/\">LM2 Alternative Investment Performance and Returns\uff08\u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3068\u30ea\u30bf\u30fc\u30f3\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm4\/\">LM4 Real Estate and Infrastructure\uff08\u4e0d\u52d5\u7523\u3068\u30a4\u30f3\u30d5\u30e9\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l1-alt\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 1 Alternative Investments\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 1 Alternative Investments LM3\u300cInvestments in Private Capital: Equity and Debt\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[98],"tags":[],"class_list":["post-10797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level1-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10797"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10797\/revisions"}],"predecessor-version":[{"id":11297,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10797\/revisions\/11297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11143"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}