Although cloud computing has been available for years, the coronavirus pandemic accelerated cloud adoption across businesses as centralized office locations shuttered and workers scattered. Increasingly, fund sponsors, as well as the companies in their portfolios, are not simply moving pieces of their infrastructure to cloud-computing platforms; they are changing their approaches to use cloud services as much as possible in lieu of on-premises infrastructures. A recent ACA Group (ACA) webinar on the topic was moderated by Kris Lau, a managing director of ACA Aponix, the cybersecurity, privacy and information technology (IT) risk division of ACA, and featured Steve Blossom, chief information officer of ACA; Andy Sobek, head of IT at Permira; and Mathew Hegarty, chief technology officer at Candlestick Capital. This article summarizes relevant takeaways from the webinar, including issues related to how cybersecurity and operational resilience differs in a cloud-first environment compared to on-premises infrastructure. See “Key Considerations for Fund Managers When Selecting and Negotiating With a Cloud Service Provider
” (Mar. 16, 2021).