LeapFrog Set to Invest in Nigerian Pension-Fund Manager
By Vernon Wessels and Sarah Syed
LeapFrog Investments Ltd. is investing in one of Nigeria’s largest pension-fund managers to tap rising demand for retirement products among low-income consumers in Africa’s most populous nation.
The private-equity investor, which has interests in healthcare and financial-services businesses spanning 149 Asian and African markets, didn’t disclose the terms of the deal with ARM Pension Managers Ltd. in a statement on Friday. ARM Pensions has $1.8 billion in funds under management reaching about 700,000 people through 57 locations across the country, it said.
Photo courtesy of GotCredit.