LeapFrog Investments has invested an undisclosed amount in ARM Pension Managers, one of the largest pensions fund administrator (PFA) in Nigeria with about $1.8bn in funds under management.
The investment in ARM Pensions will tap a rapidly growing pensions market, with a particular focus on deepening reach into the vast group of emerging consumers in Nigeria.
Michael Joyce, Investment Director at LeapFrog Investments, said: “ARM Pensions is a well-established first-class pension fund administrator with an impressive track-record of both profitability and growth.”
“Our team brings significant operational skills to bear on the development of ARM Pensions’ market presence. We have identified valuable opportunities to support the company’s digital strategy, to facilitate partnerships and to increase the firm’s brand awareness in ways that further strengthen customer retention and acquisition.”
ARM Pensions is a high growth company, which has mobile offices that reach consumers on the go as well as innovative digital channels ensuring swift access to accounts and assistance. Clients are served through 57 locations across all 36 states of Nigeria.
Wale Odutola, Managing Director at ARM Pensions, said: “We are delighted to partner with the LeapFrog Investments team, who share our vision of opening up access to financial savings for all Nigerians. We look forward to increasing the level of participation in life-enhancing pensions, and solidifying our position as a leader in Nigeria’s pensions market, the most attractive financial services sector in the country.”
Karima Ola, Partner at LeapFrog Investments, added: “Our impact investment in this outstanding high growth company will enable LeapFrog to contribute to the positive Nigerian growth story, for which pensions are fundamental.”
“Pensions not only serve as a safety net for aging Nigerians, but can also make a huge impact on the households in which these individuals live, reaching both children and other family members – supporting education, healthcare and other essential services. LeapFrog sees the partnership with ARM Pensions, and our shared growth agenda, as capable of delivering large and measurable impact for Nigeria’s people.”