Debevoise & Plimpton LLP has advised LeapFrog Investments in the formation of the largest-ever private equity fund by a dedicated impact fund manager, which surged past its $600m target to reach $700m.
The new fund invests in healthcare and financial services companies tapping into the demand from billions of emerging consumers in Asia and Africa. The success of the fund reflects LeapFrog’s outstanding track record of delivering both strong financial results and large-scale social impact.
Investors include many of the world’s leading insurers, pensions and asset managers, development finance institutions, foundations and family offices.
The new fundraise will take LeapFrog to $1.6 billion of total commitments, sustaining its position as the largest private equity manager entirely dedicated to impact investing.
The Debevoise team advising LeapFrog was led by partner John Rife, and included partner Geoffrey Kittredge and associates Mollie Braverman and Matthew Pollock. US tax advice was provided from London by partner Matthew D. Saronson and associate Patrick Fasoro.
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