Alternative Investing Report - January 20, 2026

*as of 1/19; Sources: S&P, BTC, FTSE, DJRE, GOLD

The largest private REIT (real estate investment trust) in the world, Blackstone’s BREIT, returned 8.1% in 2025, a rebound after two straight disappointing years. The result was largely due to the fund’s exposure to data centers, which now make up more than 20% of its total portfolio, and helped it outpace the rest of the commercial real estate market. Meanwhile, another major asset manager, BlackRock, announced that it has raised more than $12.5 billion for its AI partnership with Microsoft, Nvidia, and others. The partnership was created to invest in data center and energy infrastructure projects crucial to the development of AI.

➨ TAKEAWAY: 2025’s AI revolution not only boosted the public and private equities markets, but because of the massive demand for data centers, it also provided a lift to the commercial real estate market. That growth is not likely to show any signs of abating in 2026, and REITs and companies with data center exposure should continue to benefit.

📊 More tariffs coming?: As part of President Trump’s desire to acquire Greenland, he is threatening to impose tariffs on major European allies who oppose his efforts. The 10% tariffs would go into effect on February 1, rising to 25% on June 1, and could have a significant impat on the global economy. The announcement was met with swift pushback, and stock market futures have seen a significant drop of more than 1% already.

🪙 Crypto slide: After Bitcoin rose last week above $95,000, it has slowly slid back close to the $90,000 mark, with a sharp decline in concert with Trump’s tariff announcement. Other major coins have slipped further, and the overall market is down 6% since Wednesday.

🤖 2025 AI megarounds: There were 55 AI startups that raised rounds of $100 million or more last year, and considering how quickly valuations have been rising, it is a good list to study, with emerging names beyond the big ones most investors already know.

🚀 Last week’s biggest rounds: Robotics startup Skild AI led the way last week with a $1.4 billion funding round that tripled its valuation, as AI, robotics and defense tech continued to lead the way in the pre-IPO world.

🎨 More Magrittes in March: Christie’s landed the estate sale of a prominent Belgian collecting couple, which includes two prominent Magritte paintings and ten others expected to sell for seven figures when the collection hits the block in March.

🤖 Replit fundraise: The AI coding startup is raising a $400 million round at a $9 billion valuation, already tripling its value from last September.

What better place to buy a golf course than the ancestral home of the sport in Scotland? A 9-hole course in the Scottish Highlands that has been operating since 1993 is now on the market for £1.5 million ($2.02 million). In addition to the 30-acre course, the property features a parking lot, clubhouse, four fully-furnished vacation cottages (which the buyer could potentially live in), a laundry room, game room, and a communal garden and BBQ area. There are also two agricultural fields that total 26 acres and contain barns and workshops. Located thirty minutes west of Inverness (and Loch Ness), it is located in a popular tourist area — and operations could be expanded from its current March-November schedule to keep it open year-round.