Helios Investment Partners, a private-equity firm that focuses on Africa, has bought a minority stake in Nigeria’s ARM Pension Managers to tap into the nation’s fast-growing pension market, according to co-founder Tope Lawani.
Helios invested about $50 million, according to a person familiar with the situation. Nigeria’s pension market has grown by 30% a year since 2006, when a pension law requiring mandatory contributions was implemented, according to Helios. ARM manages about $2.1 billion.
“We believe, conservatively, that aggregate defined contribution pension assets in Nigeria will exceed $150 billion within the next 10 years, representing a sevenfold increase,” Tope Lawani, the former TPG Capital executive who co-founded Helios in 2004, said in an interview.
Established in 2004 and led by co-founding partners Tope Lawani and Babatunde Soyoye, Helios is one of the largest investment firms focusing on Africa and is among the few independent pan-African private equity investment firms to be founded and managed by Africans. The investment experience of the members of our team has been gained from decades of collective experience in private equity, in some of the world’s most competitive and demanding markets, within such leading firms as Texas Pacific Group (TPG Capital), Investcorp, Terra Firma and JP Morgan.
Limited partners in Helios’ funds include several leading global investment funds, corporate entities, family offices, high net-worth individuals and development finance institutions. Certain of Helios’ funds are advised by its London-based investment adviser, Helios Investment Partners LLP, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority.