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March 21, 2022

Prudential, LeapFrog to acquire minority stake in Alexander Forbes

Prudential Financial and LeapFrog Investments Group have agreed to acquire a strategic minority holding in South African financial advisory firm Alexander Forbes from Mercer.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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Financial terms of the deal were not disclosed.

LeapFrog Investments will act as the investment manager following the transaction, which is subject to approval by the Mauritius Financial Services Commission.

Alexander Forbes offers financial advice, investment, retirement, and wealth management services.

The deal follows Prudential’s partnership with LeapFrog to invest in high-growth financial services markets in Africa.

This transaction is expected to help expand Prudential’s presence across the continent.

Prudential Financial Africa, India, Indonesia, and Business Development regional president Pavan Dhamija said: “We are excited to broaden our presence in Africa and enter South Africa with an investment in Alexander Forbes through our partnership with LeapFrog Investments.

“This transaction underscores Prudential’s continued focus on Africa as a strategically important growth market and our vision to be a global leader in expanding access to investing, insurance, and retirement security. We identified Alexander Forbes as the market leader in South Africa best capable of advancing our vision and strategy.”

LeapFrog Investment COO and partner Gary Herbert added: “Through our strategic partnership with Prudential, we are backing the exceptional team at Alexander Forbes to continue to provide life-changing access to retirement and investment benefits in Southern Africa.”

Commenting on the deal, Alexander Forbes CEO Dawie de Villiers said: “It is an exciting development, and we look forward to leveraging the global insights available through Prudential Financial to enhance our value proposition.”

In 2020, Prudential launched an asset management joint venture in Beijing in partnership with the Chinese conglomerate CITIC Group.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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