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IT & cyber security

FFL invests in Abacus

Abacus Group is a global IT managed services provider for alternative investment firms

Eze partners with Untap

The strategic partnership aims to offer an integrated tech platform for PE built around Microsoft technology.

ACA appoints CFO

Neeraj Karhade joins from retail business Transformco where he was CFO

Gen II selects NTT

The partnership aims to accelerate the firm’s digital transformation

ACA merges with Foreside

Both businesses had received backing from Genstar Capital, now the lead investor of the combined business

Could NLP be the silver bullet for the asset servicing industry’s challenges?

Tim Mietus of Citco Technology Management asks if natural language processing could be an essential tool for data integration in lieu of greater industry standardisation and ever-growing capacity woes

Intapp and KPMG AG announce strategic alliance

Partnership aims to accelerate digital transformation for professional services and capital markets firms

Private equity and hedge funds’ cyber security demands converge

Tom Cole, managing director - UK & Europe, Abacus Group, charts private equity’s increasing needs for robust cyber security,

Techwork 2022: Juri Pervjakov, BaltCap

“With increasing workloads, we’ve had to consider the new role of the back office, how to streamline processes and automate workflows"

Unlimited partnership

Over the past year, there has been a surge of partnership agreements between various private equity-focused tech providers. Additionally, these same tech providers have joined forces with a number of service providers. But who is doing what, with who?

Techwork 2022: Frédéric de Frésart, Argos Wityu

"Our IT infrastructure has evolved into a single hybrid network. Everyone uses and shares the same tools. That has been a huge evolution for our employees because it completely changed the way we work"

Techwork 2022: Hind el Gaidi, Astorg

“Our ultimate aim is to capture the full value chain. From fundraising right the way through to exits, we want to ensure we have best of breed systems in place that will help us to ensure every part of the process is going well.”

Techwork 2022: Patrick Gloor, Montana Capital Partners

“The most important part of my work was and still is, constantly improving cyber security while maintaining the flexibility needed by our employees.”

Techwork 2022: Ash Patel, ECI Partners

“Some of my main achievements for the firm include outsourcing our IT services to a managed service provider (MSP) so I can put a greater focus on the strategy and governance part of IT"

The Techwork 2022

Our annual Techwork report charts the industry’s digital progress by focusing on a select group of individuals responsible for this crucial work

Drawbridge launches industry advisory board

The IAB aims to foster an open exchange of ideas and best practices to help advance cyber defences for the alternative investment community

PE and private debt still behind on digital transformation

Broadridge’s latest report found only 12% of PE and private debt respondents identified as leaders when considering their digital maturity level, compared with 41% of other investment and asset managers

Accordion acquires Platform Specialists

The acquisition enhances Accordion’s CFO technology practice, providing PE managers with a range of people, process and technology-related services

CFOs: cost and resource constraints prevent ESG integration

Intertrust’s latest survey found this to be the biggest obstacle CFOs face when integrating ESG into their investment processes

Drawbridge appoints three

The cyber security software provider also creating a DEI office to expand its talent pool and employee development

Operational forecast for 2022

We take a look at Alpha FMC’s predictions for PE operations this year, as well as individual forecasts for CFOs, COOs, CTOs, CDOs and heads of compliance

LemonEdge partners with Chronograph

The partnership aims to streamline private capital markets’ front-to-back office investment operations

LISTEN: Talking tech transformation

Hear the insights and expert views of five PE and VC finance and tech professionals on key tech trends

LPs prefer outsourcing

SS&C Intralinks' 2022 LP survey found that 38% of institutional investors surveyed prefer a manager to use a fund administrator

Comment: Alternative managers challenged to build virtual fort knoxes

The cash-in, cash-out nature of fund management requires sophisticated cyber controls, write Jeremy Slade and Don Jefferis of Hazeltree

Allvue partners with SteelBridge

The partnership will see SteelBridge assist Allvue’s clients with planning, data migration, implementation, data aggregation and post implementation of Allvue’s newly-launched PE and VC essentials platform

Cyber psychology

With cyber attacks increasing, the matter can no longer be an IT problem. It's time for private equity to see cyber threats as a major business risk, and with that, human behaviour needs to be front and centre.

Broadridge launches AI-powered AML solution

Machine-learning-based solution is for financial services firms that want to enhance their AML surveillance to detect illicit money flows and bad actors

LISTEN: The Drawdown speaks to Private Equity Technology Podcast

Alice Murray, editor of The Drawdown, speaks to Lisa Weaver-Lambert and Alex Agran of the Private Equity Technology Podcast

Alpha FX launches alternative banking platform

Solution allows GPs to open overseas bank accounts in less than a week

RFA launches Application Lifecycle Management

The tool provides an additional step that performs a static code of analysis against security vulnerabilities during the build process

The Drawdown Awards 2021: Winners announced

Congratulations to the winners of our recent 2021 Drawdown Awards

Profile: Frédéric de Frésart, Argos Wityu

The chief information officer discusses the firm's digital transformation, key considerations to ensure security isn't breached for hybrid working models as well as why blockchain is one to watch

Drawbridge hires three

Adam Menkes is global head of ops, Jacob Cane is head of strategy, while Art Murphy is director of BD

Great techspectations

As private capital market tech solutions grow in number and functionality; how aligned are GPs internally when it comes to their expectations of technology systems?

Holland Mountain expands to US

“It was a logical next step to establish a permanent base of operations in the US to service our growing client base”

Wheelhouse partners with RFA

The partnership aims to help investment firms with specific reporting and compliance requirements

The Drawdown Awards 2021: Finalists Announced

Thank you to everyone who entered, and a massive congratulations to all those that made the shortlist

Drawbridge appoints COO

Scott DePetris will drive the firm’s global strategy and business operations

KPMG joins campaign for reporting taxonomy

KPMG UK has become a founding member of Private Capital Data Standards Alliance (PCDS Alliance – formerly ADS Initiative)

Drawbridge launches cyber risk module for PE

The module provides PE funds with a single view to monitor the cyber risk profiles of their portfolio companies in real-time

Accelex secures $5m

The funding round was co-led by Illuminate Financial and AlbionVC, both of which will join the firm’s board of directors

Alpha FMC buys Lionpoint in $90m deal

Lionpoint was previously backed by Blackstone, which made a minority investment in February 2019

In conversation: Cyber security, an ESG concern

A recent webinar discussion explored the treatment of cyber security as an ESG practice

5 minutes with… James Tedman, ACA Aponix

Tedman discusses the biggest cyber security changes in PE in the last five years, the firm’s ACA Protect and PortCo Defend products, and what’s in store for the next 12 months

WATCH: What do LPs do with all the data?

A recent webinar discussion explored the way in which data is being communicated, how technology is helping both GPs and LPs, and what LPs are doing with all the information

Digital transformation still in early stages

According to RFA only 10% of firms have completed their digital transformations, while 34% are in the decision making stage

LISTEN: Do we even need standardisation? Episode 2

The second instalment of a recent podcast discussion examined industry body reporting efforts, and asked if standardised reporting is still necessary?

Right-sourcing

A year of remote working has catalysed already changing attitudes when it comes to recruitment versus outsourcing

LISTEN: Do we even need standardisation? Episode 1

A recent podcast discussion explored technological advances in data transmission, and asked if standardised reporting is still necessary?

Finding a digital edge: how to approach digital transformation

George Ralph of RFA breaks down approaches to digital transformation within private equity operations, and highlights the importance of an effective data strategy

WATCH: Cybersecurity, and ESG concern

Cybersecurity is a matter of good governance, as well as reputation and risk management - putting it at the heart of ESG practices

The Techwork

Private equity's digital transformation has undoubtedly been catalysed by events of the past year

Column: Healthy competition

Riverside Europe COO Dörte Höppner, one of the judges for The Drawdown Awards, details the importance of good service and healthy competition when it comes to service providers

IQ-EQ selects Allvue for private debt & credit

The debt desk will employ FIS software for accounting and transfer agency services, DX as the 24/7 online client portal, as well as IQ-EQ’s proprietary reporting system, IQ-EQ Cosmos

CFO of the Year award winner: Steve Darrington, Phoenix Equity Partners

Partner & CFO at Phoenix discusses winning a Drawdown award, setting up processes from the very beginning as well as how he's ensured ESG continues to be at the heart of the firm

Long Ridge backs Drawbridge

Cyber security provider Drawbridge currently counts 300 alternative asset manager clients

Technology: Cyber Security award winner: ACA Aponix

Partner Mike Pappacena explains why the firm is moving into ESG

And the winner is…

Entrants to The Drawdown's Awards were asked to demonstrate business growth, innovation and client satisfaction. While the winners were rewarded based on these metrics, what's clear from speaking to all of the successful groups is they all shared three additional commonalities

TiG acquires ThirdSpace

The deal was backed by BGF, with financing provided by Santander’s Growth Capital team.