How does a FoF diversify within alternatives

When a portfolio mainly consists of alternative investments, where general correlation of the return to the market is said to be small, what frameworks are followed to diversify the portfolio?

Viewing it from an equity perspective, where you would minimize the market risk, I was just curious what and how do you diversify the idio risk that remains (provided market risk is already small for alts), as well as existing framework (if there are any) to do so.

Thank you!

 

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