LeapFrog launches US$350mn investment partnership

21 Jan 2016

Prudential Financial, Inc. (NYSE: PRU) and LeapFrog Investments announced today the launch of a US$350 million investment partnership to access high-growth markets in Africa. Managed by LeapFrog, the new investment vehicle will target investments in life insurance companies in leading economies on the continent, including Ghana, Kenya and Nigeria, to be made over a three- to five-year period.

Charles Lowrey, executive vice president and chief operating officer of Prudential’s International Businesses, said “This investment expands Prudential’s footprint into Africa, a continent that we believe offers tremendous potential for growth over the long term. We are delighted to partner with LeapFrog Investments, given their deep experience in Africa, and their impressive record of success as insurance investors focused on emerging consumers.”

Dr. Andrew Kuper, founder and CEO of LeapFrog Investments, said, “The global insurance industry is looking for ways to close the protection gap for millions of people in emerging markets. This partnership will help address that need, while tapping some of the world’s highest growth markets. We are delighted to broaden our relationship with Prudential, a values-driven partner whom we know well and greatly respect for its global leadership in life insurance, retirement and asset management. By enabling LeapFrog to pursue larger and more established assets than via our private equity funds, this partnership also diversifies our capabilities as an alternative investment group.”

Prudential is an investor in LeapFrog’s most recent private equity fund, and also a member of the LeapFrog Insurance Innovation Circle, a knowledge-sharing and innovation initiative that convenes many of the world’s leading insurers and reinsurers.

For more information, please see here.

 

 

« Back to Member News

RT @CDCgroup: We're very happy to announce that we'll soon be welcoming our first Chief Impact Officer. Liz Lloyd CBE will lead a team of 5…

RT @Mkessome: Global private equity managers are ready to double down on their African investments https://t.co/LzuDaoOPHa via @qzafrica @a…

@Mkessome @AVCA_Africa CEO, moderated a panel discussing the role of private equity in Africa growth story… https://t.co/JJZnU4Ko3l

@Mkessome @AVCA_Africa CEO, shared insight alongside @OMFIF @IFC_org @LeapFrogInvest @meridiam_news and SI Capital… https://t.co/UUxUiAkWxc

Africa remains an attractive investment destination - 53% of institutional investors plan to increase their investm… https://t.co/sYGqv7gFiX

;