Actis Invests US$62 Million in Nigeria-based Sigma Pensions (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a majority stake in Nigeria-based pension fund administrator Sigma Pensions for US$62 million. Actis has partnered with Sigma’s founder and Chief Executive Officer Umaru Modibbo and the company’s current management team in the transaction. Sigma Pensions was founded in 2004 and reportedly has 650,000 registered customers. With Actis’s support, the company intends to promote its brand and expand within Nigeria.