Benchmark Report

82% of Private Equity breaches never touch the firm itself.

Private equity runs on documents that leave the building. Our 2026 analysis of the 300 largest PE firms found a structural threat the industry's risk model misses entirely: this isn't 300 separate security problems, it's one shared attack surface. See where the shared exposure actually lives, and where your firm sits inside it.

The 8-dimensional exposure index scoring the 300 largest PE firms, and why 69% show no visible security program at all

Why one law firm serves 32% of the cohort, and a breach at any shared provider exposes the whole industry at once

The new liability math: how the March 2026 Bain/PowerSchool ruling turns portfolio-company breaches into fund-level legal exposure

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What's inside

Inside the analysis.

The exposure index

How we scored the 300 largest PE firms across an 8-dimension structural risk model, and why 69% show no visible security program at firms that raised $3.2 trillion in five years.

The concentration index

Why a single law firm serves 32% of the cohort, five fund administrators sit behind dozens more, and a breach at any one of them exposes the whole industry at once.

The new liability math

Why 26% of the cohort show deep operational AI adoption, and how the March 2026 Bain/PowerSchool ruling turns portfolio-company breaches into fund-level legal exposure.