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Actis acquires majority stake in Nigerian pension fund provider

  • Region:

    Nigeria

  • Sector:

    Diversified Financials

  • Deal Size:

    $62 million

  • Buy Side Company:

    Actis
  • Sell Side Company:

    Sigma Pensions Limited
  • Target Company:

Actis LLP, a private equity investor in emerging markets, bought a majority stake in fund administrator Sigma Pensions Ltd. of Nigeria. London-based Actis has more than $7.6 billion in assets under management and paid $62 million for the holding in partnership with Sigma Chief Executive Officer Umaru Modibbo and management, it said in a statement on Thursday. Sigma, based in Abuja, has more than 650,000 customers among the 6 million pension holders in the nation of more than 170 million people, according to Actis.

Tags:

Deals,Financial Services,Actis,Pension Funds,Africa,Nigeria,PE deals,Sigma Pensions Ltd.,Africa Deals