Technology continues to reshape the alternative investment industry, affecting not only how fund managers conduct business, but also the people that advisers hire as more diverse skillsets are needed to implement technological advancements. These points were explored in the 12th annual Global Alternative Fund Survey conducted by Ernst & Young. This second article in our two-part series discusses changes in the employee talent pool; fees and expenses, including expense management, alternative fee arrangements, use of technology and outsourcing; and respondents’ perspectives on industry risks. The first article summarized the survey’s key findings on manager priorities, investor allocation plans, private fund offerings, separately managed accounts, growing use of technology by managers and interest in cryptocurrencies. For more on talent acquisition, see “An Introduction to Quantitative Investing: Special Risks and Considerations (Part Three of Three)” (Sep. 6, 2018).