Funds managed by the private equity business within Goldman Sachs’ asset management arm on Tuesday have invested $125m in Fortress Information Security, a supply chain cybersecurity provider.
Founded in 2015, Fortress, which secures 40% of the U.S. power grid, allows customers in critical industries to manage risks associated within their supply chains.
The move comes as supply chains around the globe are being disrupted further due to Russia’s invasion of Ukraine.
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“We believe there is a meaningful opportunity to accelerate the expansion of the platform into compelling product adjacencies, including software and hardware bill of materials, workflow orchestration, and additional analytics and reporting capabilities,” said said Will Chen, managing director at Goldman Sachs Asset Management.
Towards the end of March, Goldman Sachs Asset Management agreed to buy robo-advisor NextCapital.
Source: Seeking Alpha
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