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

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.