LeapFrog Investments, a global impact investing fund manager specializing in financial services and health care, has invested in ARM Pension Managers, the pension fund administration subsidiary of Nigeria-based Asset & Resource Management Company (ARM Group). ARM Pensions has 57 offices across Nigeria and intends to use the new funds to develop its digital strategy, establish partnerships and increase brand awareness. LeapFrog previously invested in insurance provider ARM Life, another ARM Group subsidiary, in 2012. Financial details of the transaction were not disclosed.