Illiquid investments refer to investments where it is challenging to recover invested funds quickly and at a fixed point in time. This type of investment is characterized by a prolonged commitment of capital and offers limited options for early sale or liquidation. Illiquid investments are often associated with long-term projects such as real estate development, private equity or venture capital, where a longer holding period is required to realize potential gains. These types of investments require careful planning and consideration of the investor's liquidity needs.