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Caveat emptor.
The PE sector is in an interesting position when it comes to cyber security. It invests in new ventures and restructures mature businesses. It creates and distributes significant amounts of sensitive information and data on behalf of clients, ranging from family offices, private investors and large corporate clients. As a sector, along with VC, it invests in the next generation of cyber security technology.
So all in all one would expect that it would take cyber security and the security of its portfolios and investments seriously. Two high profile cases prove otherwise, Marriott and Yahoo and this Mactavish report seems to concur.
But will change be enforced, market forces may have an impact on the sector. Investment funds are starting to question cyber due diligence within the investment process. Larger investors are starting to place cyber due diligence within credit assessments. The regulatory environment for cyber is getting tougher and the insurance industry is starting to align is insurance portfolios to focus on cyber.
A premise of PE is to create value, which cyber is adept at destroying. Given the position of influence PE has, will the sector be pulled into line or is there an opportunity for the sector to lead the cyber debate?
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