While upgrading our site we noticed a compatibility issue with the following plugins:
BuddyPress 2.2.1
Events Manager 5.5.6
BuddyPress Custom Profile Menu 1.5.1
While BuddyPress and Events Manager were active, all the custom profile pages would be blank.
In em-events.php there is a filter applied to the content, but there is no filter registered so the content becomes blank.