abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

30 Mar 2021

Author:
Stephanie Kirchgaessner, The Guardian

Financiers behind NSO Group in struggle for control of private equity firm

The company had been the focus of scrutiny for years – a seller of controversial surveillance equipment coveted by governments across the world. So when three financiers behind a private equity fund led the acquisition of NSO Group in 2019, they promised to do “whatever is necessary” to ensure the company’s technology would not be used to abuse human rights.

The trio pledged that their London-based firm, Novalpina Capital, would establish “a new model for public transparency”, an ambition they described as “wholly without precedent within the cybersecurity industry”.

Two years later, the business partners are locked in a behind-the-scenes power struggle that has been largely concealed from public view.

The exact nature of the conflict is unclear, but it has been described as a “struggle for control” of the private equity group. And it may have significant implications for Novalpina Capital fund investments, including NSO Group, whose technology has allegedly been used by repressive regimes to target human rights activists, political opponents and journalists.

The Guardian understands that Novalpina Capital’s boardroom rift has resulted in the suspension of the shareholder voting rights of Stephen Peel...

Timeline

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.