ACA Compliance Group (ACA) recently discussed the findings of its 2017 Alternative Fund Manager Compliance Survey in a webinar featuring Colleen Marencik and Brian Lattanzio, director and consultant, respectively, at ACA. This article, the second in a two-part series, discusses the survey’s findings with respect to investment allocation practices by private equity and real estate managers, including co-investments; cross transactions; best execution and fees; conflicts of interest; and valuation. The first article examined the survey’s findings regarding recent SEC examination experiences, along with hedge fund trading and counterparty issues, including best execution; soft dollars; principal transactions and cross trades; dark pools; and trade errors. For additional commentary from ACA, see our two-part roadmap to maintaining books and records: “Compliance With Applicable Regulations” (Nov. 2, 2017); and “Document Retention and SEC Expectations” (Nov. 9, 2017); and our two-part series “A Roadmap for Advisers to Comply With Marketing and Advertising Regulations”: Part One (Aug. 3, 2017); and Part Two (Aug. 10, 2017). See also our coverage of ACA’s 2016 Compliance Survey; 2015 Compliance Survey; 2014 Compliance Survey; and 2013 Compliance Survey.