Faced with increasingly intrusive requests for information from current and prospective investors, a private fund manager must be prepared to tactfully respond while also protecting its business. Even when managers are willing to disclose particular items, they are likely to find themselves subject to growing numbers of due diligence requests for sensitive information and documents. Managers are then faced with how to distinguish between which requests warrant disclosure and which do not, as well as different ways to disclose information while best protecting the firm. The Private Equity Fund Law Report surveyed 20 general counsels and other “C‑level” decision makers at leading private fund managers to identify industry best practices for responding to these requests. This second article in a two-part series explores how managers have actually responded to requests and what they did to mitigate the potential negative consequences of releasing sensitive information. The first article described the types of information requests that private fund managers are encountering from investors, focusing on the most intrusive requests. See “Current Trends in Operational Due Diligence and Background Checks” (Nov. 3, 2016); and “Evolving Operational Due Diligence Trends and Best Practices for Due Diligence on Emerging Private Fund Managers” (Apr. 18, 2014).