LeapFrog raises $1.15 billion in fourth fundraiser

South African-Australian private equity firm LeapFrog Investments has announced the close of its fourth fund (Fund IV), with commitments and designated co-investments totalling $1.02 billion. 

LeapFrog’s initial target for Fund IV was $1 billion.  The fundraise includes $808 million of primary fund commitments and up to $210 million of pre-allocated co-investment to accelerate high-impact healthcare and financial services companies in global growth markets. 

Alongside an additional partnership with USA-based Prudential Financial (NYSE: PRU) to invest in leading African financial services firm Alexander Forbes, this brings new allocations to the firm’s healthcare and financial services strategies across the recent fundraising cycle to more than $1.15 billion.