Key Takeaways
- • Drawbridge, a cybersecurity firm focused on the alternative investment industry, launched a real-time executive summary of an alternative investment manager's cyber risk program, delivered through its existing client hub.
- • The executive summary consolidates insights on cybersecurity governance, assessment, testing, monitoring, remediation, and forecasting, intended for general partners and board members to assess vulnerabilities and make resourcing decisions.
- • Drawbridge cites an average of 200,000 daily cyber threats facing alternative investment firms and estimated annual losses of $100 billion, figures presented in the press release without independent verification.
- • According to Statista, as cited by Drawbridge, proactive firms can recover from cyber incidents in seven days, while firms with poor postures face disruptions lasting more than 90 days.
- • Drawbridge CEO William Haney said allocators and limited partners increasingly view cyber threats as affecting portfolio returns and investment principal.
Summary
Drawbridge, a New York-based firm that provides independent cybersecurity oversight to the alternative investment industry, has launched a real-time executive summary of a manager's cyber risk program, according to a Business Wire press release. The offering is designed to give alternative investment managers, or alts managers, a consolidated and on-demand view of their cyber readiness, working alongside Drawbridge cybersecurity experts. General partners and board members can use the summary to quickly assess vulnerabilities and make resourcing decisions.
The summary is delivered through Drawbridge's existing client hub and covers cybersecurity governance, assessment, testing, monitoring, remediation, and forecasting. The company says the tool allows managers to assess, benchmark, and remediate cyber and information security controls to protect capital and reduce operational risk, and to meet evolving investor and regulatory expectations.
The release cites an average of 200,000 cyber threats per day facing alternative investment firms and estimated annual losses of $100 billion. It also cites Statista for the finding that proactive firms can recover within seven days, while firms with weak postures see disruptions lasting over 90 days. Drawbridge states that regulators and allocators have raised expectations and signaled that traditional approaches are no longer adequate. These figures are the company's own characterization and were not independently verified in the release.
CEO William Haney said that allocators and limited partners increasingly view cyber threats as affecting portfolio returns and investment principal, making an up-to-date view of cyber programs a competitive advantage for alts managers. Jason Elmer, founder and head of strategic innovation, said the offering combines technology, data, and human expertise to give managers institutional-grade protection without the usual overhead. Drawbridge says it has more than 1,000 global clients.
The summary is delivered through Drawbridge's existing client hub and covers cybersecurity governance, assessment, testing, monitoring, remediation, and forecasting. The company says the tool allows managers to assess, benchmark, and remediate cyber and information security controls to protect capital and reduce operational risk, and to meet evolving investor and regulatory expectations.
The release cites an average of 200,000 cyber threats per day facing alternative investment firms and estimated annual losses of $100 billion. It also cites Statista for the finding that proactive firms can recover within seven days, while firms with weak postures see disruptions lasting over 90 days. Drawbridge states that regulators and allocators have raised expectations and signaled that traditional approaches are no longer adequate. These figures are the company's own characterization and were not independently verified in the release.
CEO William Haney said that allocators and limited partners increasingly view cyber threats as affecting portfolio returns and investment principal, making an up-to-date view of cyber programs a competitive advantage for alts managers. Jason Elmer, founder and head of strategic innovation, said the offering combines technology, data, and human expertise to give managers institutional-grade protection without the usual overhead. Drawbridge says it has more than 1,000 global clients.
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