BlueVoyant Research Reveals Cybersecurity Challenges for Private Equity Portfolio Companies

New research identifies key focus areas for portfolio companies to reduce cyber risk and costs associated with breaches

New York, November 21, 2022 /PRNewswire/ — Blue Air, an industry-leading cyber defense firm that combines internal and external cybersecurity, today released a new report highlighting cyber risks affecting private equity portfolio companies. The study found IT governance to be the top concern, with many portfolio companies struggling with IT hygiene, potentially leaving them vulnerable to costly breaches.

“In terms of private equity portfolio companies, we’re seeing a variety of cyber defense postures,” said Dan Wassily, Vice President of Strategic Development at BlueVoyant. “Cybersecurity as a subset of risk is sometimes overlooked. This analysis confirms the need to prioritize cyber defenses to protect portfolio company value. The private equity space is starting to get on the right track. However, we must close the whole process to protect those who are vulnerable. attacking entities and harden cyber defenses against less exploitable but equally destructive threats.”

BlueVoyant analyzed 780 portfolio companies from private equity-backed firms, most of which are headquartered in the United States, but also include companies around the world Europe and around the globe. Key findings include:

  • Nineteen percent of the portfolio companies surveyed were exposed through “zero-tolerance findings” found in their internet-facing, publicly accessible footprints. BlueVoyant defines zero tolerance as significant known findings that are easily exploited by malicious actors and are often associated with successful ransomware attacks. If exploited, these vulnerabilities could result in loss of data and service availability, translating into customer distrust and financial loss.
  • More than 70 percent of key Internet-facing findings relate to IT hygiene.

“Private equity firms must effectively monitor their digital ecosystems by continuously monitoring their portfolio companies to quickly remediate any issues and overcome the financial impact of any cyber attack,” said James Tamblyn, Vice Chairman of Strategic Development at BlueVoyant. “Without proper cyber risk management, these companies could face costly consequences, especially if IT hygiene is not improved.”

To maintain cyber vigilance within private equity firms, BlueVoyant recommends proactive work within portfolio companies to reduce cybersecurity risks and avoid costs associated with breaches. Working with portfolio companies to improve IT management practices to current standards is key, while establishing prioritized risk mitigation plans and continuously assessing any weaknesses in their real-time risk posture.

BlueVoyant’s research uses digital “footprints,” maps of an organization’s externally facing network assets, registered IP addresses, and internet hosting presence, in order to gain comprehensive visibility into any given organization’s attack surface using a combination of artificial intelligence and machine learning.The full research report, “Private Equity: A Look at Portfolio Company Cyber ​​Risk” is Available Online here.

About Lanhang

BlueVoyant combines internal and external cyber defense capabilities into one outcome-based platform called BlueVoyant Elements™. Elements is cloud-native, continuously monitoring your network, endpoints, attack surface and supply chain, and across the clear, deep and dark web for vulnerabilities, risks and threats; and taking action to protect your business while leveraging machine learning-driven automation and human-led expertise. Elements can be deployed as standalone solutions or together as a comprehensive cyber defense platform. BlueVoyant’s approach to cyber defense is built around three key pillars – technology, telemetry and people – to deliver industry-leading cybersecurity to more than 700 clients worldwide.

access www.bluevoyant.com

BlueVoyant Press Contacts

Jennifer Schlesinger
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+1 201.397.4976

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SOURCEBlueVoyant

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