Simplifies cyber governance for executives at alternative investment managers with an on-demand, actionable summary of cyber readiness
New York, November 7, 2024—Drawbridge is debuting a real-time executive summary of a manager’s cyber risk program. The aim is to enable alternative investment managers (alts managers) to strengthen executive confidence in their firm’s cyber posture by working with their Drawbridge cybersecurity experts. General partners and board members can use these insights to quickly assess vulnerabilities and make resourcing decisions.
Through its existing client hub, an executive summary offers a consolidated view of essential, actionable insights into cybersecurity governance, assessment, testing, monitoring, remediation, and forecasting. This helps the alternative investment management community make more informed risk decisions to comply with ever-evolving investor and regulatory concerns. For alts managers, it’s a reliable way to assess, benchmark, and remediate cyber and infosec controls to protect capital and reduce operational risk.
Alternative investment firms face an average of 200,000 cyber threats daily, leading to estimated annual losses of $100 billion. Regulators and allocators have taken note, raised expectations and signaled that traditional cybersecurity approaches are no longer adequate. According to Statista, firms that take a proactive approach to cybersecurity can recover in seven days, while firms with poor postures see business disruptions lasting over 90 days. As a result, ensuring the resilience of the alternative investment management community is a top priority for investors, irrespective of fund size.
“The stakes are too high,” said William Haney, CEO, Drawbridge. “Allocators and limited partners increasingly view cyber threats as impacting portfolio returns and investment principal, so having an immediately available and up-to-date view of their cyber program has become a key advantage for alts managers.”
“By offering this executive summary, we are taking the complexity out of cybersecurity programs. We are offering clients the opportunity to continuously calibrate their cyber health and meet stakeholders’ demand for a proactive, dynamic approach that protects their reputation, operational resiliency, and returns,” Haney said.
This initiative represents the culmination of Drawbridge’s journey to offer independent cybersecurity program oversight by merging human expertise with advanced technology to establish cybersecurity as a strategic asset that improves compliance and secures investments.
“Cyber is an ongoing effort. Like our clients’ investors and allocators, we are setting the bar high,” said Jason Elmer, founder and head of strategic innovation, Drawbridge. “As these stakeholders become more involved, they want their firms or portfolio companies to have institutional-grade protection without the usual overhead.”
“By combining advanced technology, data, and human expertise into a comprehensive program, we can prepare alts managers for evolving demands and offer them the confidence they need for their firm, board, and investors,” Elmer said.
