AFRICA – Fairfax Africa, an investment holding company and Helios Holdings, a private equity investing firm, have announced the completion of the strategic transaction signed on July 10, 2020, following shareholder approval.
Fairfax Africa has been renamed Helios Fairfax Partners Corporation (HFP) and will continue to be listed on the Toronto Stock Exchange under the symbol ‘HFPC’.
The transaction creates a pan-Africa focused listed investment holding company that has the benefit of the separate asset management activities of Helios Investment Partners.
This diversified investment platform combines best-in-class third party investment management capabilities with the strength of a permanent capital vehicle.
HFP and Helios collectively are among the largest Africa-focused providers of debt and equity financing to African businesses, through their private equity fund and balance sheet investments.
As a result of the transaction, affiliates of Helios acquired an aggregate total of 24,632,413 subordinate voting shares of HFP and 25,452,865 multiple voting shares HFP such that they collectively hold beneficial ownership of 45.9% of the total number of both HFP’s issued and outstanding subordinate voting shares and multiple voting shares; and 45.9% of the voting power of HFP’s pro forma share capital.
In exchange, HFP received the right to certain carried interest amounts and excess fees generated by various Helios funds.
Additionally, an affiliate of Helios, the investment advisor to the Helios funds, has been appointed sole investment adviser to HFP; and Tope Lawani and Babatunde Soyoye, the co-founders and Managing Partners of Helios, have been appointed as co-chief executive officers and directors of HFP.
Helios Fairfax Partners Corporation is an investment holding company whose investment objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.
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