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LeapFrog Set to Invest in Nigerian Pension-Fund Manager

  • ARM has $1.8 billion in assets, reaches about 700,000 people
  • At least 89% of Nigerian workers not registered for pensions
Nigerian Economy And Oil In Niger Delta And Port Harcourt

Photographer: George Osodi/Bloomberg

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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.