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Funds advised by Helios Investment Partners are to acquire a minority stake in ARM Pension Managers PFA Limited, a subsidiary of Asset & Resource Management Company.
ARM Pensions is Nigeria’s largest independent pension fund manager with over USD2.2 billion of pension assets under management.
Since the country’s adoption of pension reforms in 2006, the pension industry in Nigeria has grown by over 30 per cent annually, constituting an important part of the economic landscape today.
The industry is expected to continue to grow strongly and benefit from the favourable secular trends. Currently, less than 10 per cent of Nigeria’s estimated 70 million strong workforce is enrolled in the country’s newly established and mandatory contributory pension scheme.
ARM Pensions’ revenues grew 45 per cent per year between 2008 and 2012. In 2013, ARM Pensions’ funds under management grew by 37 per cent whilst revenue appreciated by 43 per cent and profit before tax went up by 86 per cent.
Sadiq Mohammed, managing director of ARM Pensions, says: “Helios brings deep experience in African financial services, a proven track record of partnering with growth companies like ours, as well as a global perspective. We are excited by the opportunity in our industry and believe that Helios is the perfect partner for us as we consolidate our market leading position.”
Tope Lawani, managing partner of Helios Investment Partners, says: “ARM Pensions is an attractive business with a best-in-class management team and an established track record within the Nigerian pension industry. Helios has a long-standing relationship with ARM and we look forward to working with the management team to grow the business in what is a massively underpenetrated market.”
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