Investment Summary

LeapFrog Investments and Prudential Financial Invest In Alexander Forbes

On March 18, 2022, growth capital firm LeapFrog Investments and Prudential Financial invested in insurance company Alexander Forbes

Investment Highlights
  • This is LeapFrog Investments’ 11th and Prudential Financial’s 6th transaction in the Insurance sector.
  • This is LeapFrog Investments’ 3rd and Prudential Financial’s 1st transaction in South Africa.

Investment Summary

Date 2022-03-18
Target Alexander Forbes
Sector Insurance
Investor(s) LeapFrog Investments
Prudential Financial
Deal Type Stake Purchase
Advisor(s) Bowmans (Legal)

Target

Alexander Forbes

Sandton, South Africa
Alexander Forbes is an insurance broker, asset multi-manager, and financial services company that impacts people’s lives by delivering insight and advice to individuals, employers, and retirement funds. Alexander Forbes was founded in 1935 and is based in Sandton, South Africa.

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Investor(S) 2

DESCRIPTION

LeapFrog Investments is a private equity firm focused on opportunities across Asia and Africa. The Firm looks to invest $10 to $50 million per transaction to fund high-growth, financial services and healthcare businesses operating in fast growing markets. LeapFrog is an active investor and looks to support portfolio companies with operations, sales, human resources, and other core business functions. LeapFrog Investments was formed in 2007 and is headquartered in Ebene, Mauritius.


DEAL STATS #
Overall 34 of 35
Sector: Insurance M&A 11 of 11
Type: Stake Purchase M&A Deals 9 of 9
Country: South Africa M&A 3 of 3
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Resolution Insurance

Nairobi, Kenya

Resolution is a general insurer with operations in Kenya, East Africa’s biggest economy, and in neighboring Tanzania as well as a partnership in the Ugandan market. Resolution Insurance was founded in 2002 and is based in Nairobi, Kenya.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-06 Redcliffe Labs

Noida, India

Redcliffe Labs is an affordable and convenient omni-channel diagnostics service operating across 14 cities in India. The company facilitates at-home diagnostics for more than 3500 medical tests through their network of 350 mobile phlebotomists, supported by 21 state-of-the-art labs and overseen by experienced pathologists. Redcliffe Labs was founded in 2018 and is based in Noida, Uttar Pradesh.

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Investor

Prudential Financial

Newark, New Jersey, United States

Category Company
Founded 1875
Sector Insurance
Employees37,936
Revenue 70.6B USD (2024)
DESCRIPTION
Prudential office building in downtown Chicago, Illinois.
Prudential office building in downtown Chicago, Illinois.

Prudential Financial is a provider of arrange of financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. Prudential Financial was founded in 1875 and is based in Newark, New Jersey.


DEAL STATS #
Overall 6 of 6
Sector: Insurance M&A 6 of 6
Type: Stake Purchase M&A Deals 1 of 1
Country: South Africa M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Fortitude Life Insurance & Annuity

Shelton, Connecticut, United States

Fortitude Life Insurance & Annuity is a provider of life insurance and annuity services. Fortitude Life Insurance & Annuity was founded in 1969 and is based in Shelton, Connecticut.

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