Multi-Asset

First Trust Alternative Opportunities Fund

Formation2016

CategoryInterval Fund

SEC Filing ↗

Net Assets

$3.1B

NAV YoY

+53%

Portfolio Composition

Investment Type

Private Equity

12.00%

Real Estate

14.00%

Alternative Credit

13.00%

Hedged Strategies

16.00%

Co-Investments

45.00%

Strategy

CLOs

25.50%

Regulatory Capital Relief

16.40%

Growth Equity/Venture Capital

7.20%

Value-Add Real Estate

7.20%

Asset-Backed Bridged Loans

6.80%

Term Loans & Equity Warrants

6.40%

Net Lease Real Estate

3.10%

Private Equity

3.00%

Middle Market Direct Lending

3.00%

Option Writing

2.80%

Multi Market Direct Lending

2.30%

Other

16.20%

Portfolio composition data sourced from regulatory filings.

Deeper Analysis

Institutional intelligence and portfolio transparency

Reported as of September 2025

Principal Portfolio Holdings

Holding	Value	Allocation
CIRE REAL ESTATE INVESTMENT TRUST, Inc.	$98.0M	3.18%
OAK St REAL EST LP BLUE OWL NET LEASE	$93.5M	3.04%
Glenmede Secured Options Portf - Glenmede Secured Options Portfolio - Class Institutional	$85.7M	2.78%
Proprietary Exposure	---	---
Proprietary Exposure	---	---

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About This Fund

The First Trust Alternative Opportunities Fund is a '40 Act registered closed-end interval fund managed by First Trust Capital Management L.P. It employs a multi-manager approach, allocating assets among the Investment Manager and sub-advisers including RiverNorth Capital Management and Palmer Square Capital Management. The fund pursues positive absolute returns through global macro, opportunistic equity, merger arbitrage, and multi-strategy fixed-income strategies. It offers quarterly repurchase opportunities and targets long-term capital appreciation with low correlation to traditional indices.