Helios Investment Partners’ eventful third quarter
Private equity firm Helios Investment Partners has recorded an eventful third quarter with several new deal, fundraising and corporate announcements. Africa Private Equity News looks at the firm’s major moves over the past three months.
Helios backs African reinsurance business
Helios announced the launch of Africa Specialty Risk Group (ASR) in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African reinsurance operations. ASR is a reinsurance business focused on becoming the partner of choice to corporations through the provision of comprehensive and bespoke risk mitigating insurance solutions.
Helios identified an unmet need in the reinsurance space to expand the continent’s long-term domestic capacity beyond its current capabilities. Having previously founded market-leading businesses such as Helios Towers, the firm took a similar pioneering approach in partnering with Mikir Shah and Bryan Howett to develop and increase domestic reinsurance capacity.
Helios leads $60m funding round for cross-border payments company
Singapore-based fintech startup Thunes, which operates a global B2B cross-border payments network, has attracted a $60 million series B funding round led by Helios. Additional investors include Checkout.com as well as existing investors GGV Capital and Future Shape.
Launched in 2016, Thunes’ global network connects mobile wallet providers, banks, technology companies and money transfer operators, enabling seamless cross-border payments to and from emerging economies in a fast and secure manner.
Tope Lawani, co-founder and managing partner of Helios commented, “The African fintech space, and payments in particular, remains a key focus area for Helios and we continue to look for opportunities to back high-growth companies building key infrastructure for the financial ecosystem in Africa. Thunes is a great example of a firm leading this. The unique network built by the company enables its partners to process cheaper and faster cross-border payments of all types. We are delighted to be supporting Thunes in their plans to connect multiple payment ecosystems across often challenging markets in Africa and other emerging markets and thus, foster further financial inclusion.”
Helios hires ESG director from Carlyle
Helios has appointed Phil Davis as Director of Environmental, Social & Governance (ESG). Davis has over 14 years of experience, most recently as Head of Sustainability for the EMEA region at The Carlyle Group. He joins Helios’ Portfolio Operations Group, contributing to value creation through the lifecycle of Helios investments, and supporting the firm in further advancing and expanding the scope of its ESG framework and policies.
Helios and Fairfax Africa intend to combine businesses
Fairfax Africa, an investment holding company traded on the Toronto Stock Exchange, has entered into a definitive agreement with Helios Holdings Limited for the combination of their complementary businesses on one unified platform.
The Helios Holdings Group will contribute certain economic streams (from the management and performance fees arising from current and future Helios funds) to Fairfax Africa in exchange for a 45.9% equity and voting interest in the pro forma share capital of Fairfax Africa. Fairfax Financial Holdings Limited will retain voting control of the combined entity.
On closing of the transaction, Fairfax Africa will be renamed Helios Fairfax Partners Corporation (HFP) and continue to be listed on the Toronto Stock Exchange.
Tope Lawani and Babatunde Soyoye, the co-founders and managing partners of Helios Investment Partners LLP, the investment advisor to the Helios funds, will be appointed as co-chief executive officers of HFP. Since 2004 they have jointly built the leading pan-Africa focused private equity business with four successful funds. The current CEO of Fairfax Africa, Michael Wilkerson, will become the executive vice chairman of HFP.
Upon closing, Helios will be appointed sole investment adviser to HFP. As a result of the transaction, HFP shareholders will benefit from a broader team of experienced investment professionals fully focused on Africa, with deep local knowledge, differentiated capabilities and a successful track record across the continent in identifying and securing high-quality, largely proprietary, investment opportunities.
Helios fund lands $100m commitment from LP
CDC Group, the UK’s development finance institution, has committed $100 million to Helios Investors IV, the fourth private equity fund raised by Helios.
The pan-African generalist fund will invest in and build market-leading companies across the continent. With a well-established local presence in Lagos and Nairobi, offices in Europe and strong networks across the continent, Helios has grown significantly since its establishment in 2004 and has invested in businesses that operate in over 30 African countries.
Reach Africa’s private equity community by publishing a Showcase Article, Job Opportunity or Event on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.