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The equity and Alterntive Assets formulas are the freakin same thing. I’m taking it a step further, please follow me here:
Equity material says:
Unlevered = Levered (1/(1+D/E))
Levered = Unlevered (1 + D/E)
Alternative Asset section says:
Bequity = Bassets (1+ D/E)
So my deduction is that:
Levered = Bequity
Unlevered = Bassets
Thus, Unlevered Beta = Bassets = the beta of the firm independent of capital strucuture.

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