In a strategic move aimed at unlocking the potential of Nigeria’s pension industry, MBO Capital Management Limited has divested its 80% equity stake in Radix Pension Managers Limited to CardinalStone Partners Limited. This acquisition marks a significant development in the financial services sector, with CardinalStone poised to leverage its expertise to propel Radix Pension towards becoming a top-tier pension fund administrator in Nigeria.
CardinalStone Partners Limited, renowned for its prowess in investment banking and asset management, boasts a team of seasoned professionals with a wealth of experience in building and governing successful businesses. The firm’s vision extends beyond financial services, encompassing asset management, financial advisory, capital markets, securities trading, management consulting, and operations management.
On the other hand, Radix Pension Managers Limited, a licensed Pension Fund Administrator (PFA) regulated by the National Pension Commission, has been committed to providing innovative and comprehensive pension solutions since its inception in 2007. With a wide range of pension products and services tailored to meet the needs of diverse clients, Radix Pension is poised to thrive under CardinalStone’s stewardship.
The objective of CardinalStone’s investment in Radix Pension is clear: to unlock the company’s potential for growth and excellence in the Nigerian pension market. Through operational efficiencies, strategic growth initiatives, and a focus on customer experience, CardinalStone aims to significantly increase Radix Pension’s Assets Under Management and solidify its position as a leading player in the industry.
Importantly, CardinalStone affirms its commitment to investing in the professional development of Radix Pension’s staff, recognizing their role as key assets in building a sustainable and successful pension institution. While the transaction will result in a change in control of Radix Pension, with CardinalStone acquiring majority stake, the operations of the company will remain uninterrupted, with CardinalStone continuing the business operations as a Pension Fund Administrator.
The acquisition is expected to boost morale among Radix Pension’s staff and management, as CardinalStone’s commitment to improving the business and general well-being of its employees is evident. Any changes in management or employee structure will be strategic and aligned with the company’s goals and objectives, with CardinalStone planning to identify experienced candidates to strengthen the management team where necessary.
Overall, the acquisition of Radix Pension Managers Limited by CardinalStone Partners Limited heralds a new chapter in the evolution of Nigeria’s pension industry, with CardinalStone’s vision and expertise poised to drive growth, innovation, and excellence in pension fund administration.
