Orrick has advised LeapFrog Investments Group, a profit-with-purpose investor in emerging markets, on its $180 million investment in Ghana’s largest and first publicly-listed insurer Enterprise Group. The investment was made through LeapFrog Strategic African Investments (“LSAI”), a $350 million fund in which the NYSE-listed Prudential Financial, Inc. is the primary investor. The Enterprise Group commitment represents LeapFrog’s largest investment to-date and is the first investment by LSAI.
LeapFrog Investments backs financial services and healthcare companies that profitably reach low-income consumers in emerging markets.
The transaction is subject to customary closing conditions, including regulatory approvals.