What are the rules, expectations, and norms on communicating fund holdings and deals to LPs?

The goal is to communicate on a regular schedule to set expectations about communication with LPs, otherwise some will start demanding heavy communication. I would look to send one good update once a quarter, a larger update at the end of the year, and hold one or two virtual events per year, unless you can afford to do a nice in person event, which can be done once per year.