For the 15th year, EY conducted its annual global alternative investment fund survey. In the third quarter of 2021, it interviewed 210 hedge fund and private equity fund managers and 54 institutional investors to gather their perspectives on a wide range of topics and trends relevant to the private fund space. This second article in a two-part series explores EY’s findings on talent management and the evolving work environment; diversity, equity and inclusion; and responsible investing. The first article covered alternative investment fund performance; strategy and allocation preferences; evolving product offerings; special purpose acquisition companies; digital assets; outsourcing; and other evolving trends. For the results of similar surveys, see “Most Hedge Fund Managers Met or Exceeded Targets Last Year, According to Recent Global Hedge Fund Study (Part One of Two)” (May 13, 2021); “JPM Global Alternatives Outlook Promotes Alternatives As Essential to ‘Alpha, Income and Diversification’” (Mar. 4, 2021); and “AIMA HFM Survey Finds Broad Investor Satisfaction With Hedge Fund Performance” (Feb. 25, 2021).