Private equity firms dissatisfied with their own cybersecurity

Just over half (51%) of private equity and real estate managers describe themselves as being less than satisfied with the current level of cybersecurity within their own firms, according to a survey by fund administration firm Augentius.

The research, based on a survey of firms across the globe, concluded that over half of private equity and real estate managers regard the need to invest in their own firm’s cyber technology as a high priority for the coming year.

In addition, the survey found, managers expect data management technology and artificial intelligence to transform the way private equity operates – but legacy systems and a lack of technology leadership and skills are identified as barriers to innovation

Augentius chief executive Ian Kelly said: “It’s fair to say that the old stereotype of the private equity industry lagging behind when it comes to seeing the importance of technology is now firmly outdated.

“There are now positive signs that regulator warnings about the rising threat of cybercrime are getting through to the industry and having the desired effect on investment in this area.”

©2018 funds europe

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