The on-site visit has become an essential element of an investor’s operational due diligence (ODD) program. As one allocator told the Private Equity Law Report, “There are a few important questions that can only be asked while looking into the eyes of the chief operating officer or chief financial officer.” There are, however, various questions, practices, approaches and techniques investors can implement to extract maximum value from an on-site visit. This three-part series details how and why investors should supplement their remote diligence of fund managers with on-site due diligence visits. Based on insights from ODD veterans, this second article analyzes how investors should conduct diligence visits and how managers can prepare for them effectively. The first article outlined the rationale for the on-site visit and the mechanics of advance preparation. The third article will enumerate steps for investors to take to memorialize and supplement their diligence efforts after the on-site visit. See “Perspectives on Operational Due Diligence From an Investor, Consultant and Manager” (Nov. 9, 2017); and “Evolving Operational Due Diligence Trends and Best Practices for Due Diligence on Emerging Fund Managers” (Apr. 18, 2014).