Helios Investment Partners LLP is reportedly planning to raise US$1.25 billion for its Africa-focused private equity firm.
The London-based company which is led by Nigerian nationals, Tope Lawani and Babatunde Soyoye, is apparently in talks with asset managers and development agencies to create what would be ideally the largest private equity fund for African investments. According to people close to this news, the fund could be operational before the year ends.
Founded in 2004, to focus exclusively on private investment in Africa, Helios Investment has raised three private equity funds and invested over US$2 billion in African businesses across 30 countries ranging from startups to established companies.
Helios Investment joins other private investment funds that are specifically eyeing Africa as the economic recovery taking place across the continent boosts investor sentiment.
Recently, Private Equity firm, LeapFrog Investments announced the largest-ever private equity fund by a dedicated impact fund manager, surging past its US$600 million target to reach US$700 million. The new fund invests in healthcare and financial services companies – tapping into the demand from billions of emerging consumers in Asia and Africa.
This is timely as foreign investments in Africa has been intermittent with New York-based Blackstone Group LP announced that it is scaling back in Africa after less than five years and the collapse of Dubai-based Abraaj Group which ran a near US$1 billion sub-Saharan Africa fund with notable investment in Java House Group, East Africa’s largest coffee house chain.