Northwire Canada EditionSaturday, October 17, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0% GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0%
Earnings

Financial Results for the Fourth Quarter of 2025

By The Northwire Desk — AI Analysis Mar 27, 2026 · 17:00 HFPC · 1.81
HFPC · Price

Executive Summary

  • Helios Fairfax Partners reported record net earnings of $40.5 M for 2025 and $18.4 M for Q4 2025, the strongest performance since its inception in 2020.
  • The company increased its borrowing facility to $85 M (with an optional $15 M uplift) and subscribed to $2.5 M of Series B shares in portfolio company HSEG.
  • Helios Fairfax announced a cash offer to acquire CAB Payments Holdings plc for up to ~$75 M, with Helios Fund V participating via a related capital call if the transaction closes.

Key Details

  • 2025 Financial Highlights
  • Book value per share rose 9.9% to $4.22 (from $3.84).
  • Portfolio investments grew 17.4% to $463.7 M (up from $394.9 M).
  • Net earnings of $40.5 M; earnings per share $0.37 vs. a loss of $0.54 in 2024.

  • Net gains on investments totaled $65.2 M, led by Seven Rivers common shares ($17.9 M) and Helios Fund IV LP interests ($16.4 M).

  • Q4 2025 Highlights

  • Book value per share up 4.2% to $4.22 (from $4.05 in Q3).
  • Net earnings $18.4 M, compared with a loss of $41.6 M in Q4 2024.

  • Deployed $13.1 M into Helios Managed Investments, including $8.7 M to Conduit Technology Inc.

  • Subsequent Events (post‑31 Dec 2025)

  • HSEG Series B Close: HFP subscribed for $2.5 M of Series B shares; total Series B raise was $30 M, with IFC and Proparco as lead investors.
  • Credit Facility Expansion: Borrowing limit increased to $85 M (optionally up to $100 M).
  • Consolidation of Asset Management Business: Effective Jan 1 2026, Helios’ asset‑management subsidiaries (TopCo LP, Helios Investment Partners, etc.) will be consolidated. Pro‑forma impact would have added ~$87 M of income and increased portfolio investments to ~$414 M for 2025.

  • Proposed Acquisition of CAB Payments Holdings plc: Maximum consideration ≈ $75 M; Helios Fund V will provide a related capital call if the offer succeeds.

  • Liquidity & Capital Allocation

  • Realized cash from portfolio: $25.2 M (including $18.0 M from Seven Rivers and $7.1 M from HSEG loans).

  • Deployed $35.9 M across the year into new investments, notably Helios Fund IV LP ($7.9 M) and loans to HSEG ($11.0 M) and HDV ($5.5 M).

  • Balance Sheet (Dec 31 2025)

  • Total assets: $481.4 M; cash & equivalents $10.8 M.
  • Borrowings: $10.0 M (new facility limit $85 M).
  • Common shareholders’ equity: $456.9 M.

Notable Quotes

“2025 delivered the strongest net earnings and highest gains in our portfolio that Helios Fairfax Partners has achieved since it was established… Liquidity remains important to us, with $25 million realized from the portfolio in the year, and we have increased the limit on our existing credit facility to support further investments.” – Tope Lawani & Babatunde Soyoye, Co‑CEOs

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

More from

May 06, 2026 · 19:47

Tagline: Helios Fairfax Confirms Consolidation Strategy with Fifth Consecutive Book Value Gain Amid CAB Payments Bid

Earnings Apr 17, 2026 · 10:44

Helios Fairfax Advances CAB Payments Takeover Amidst Regulatory Scrutiny

M&A / Property Mar 27, 2026 · 03:00

Helios Consortium Offer for CAB

M&A / Property Mar 02, 2026 · 12:37

Helios Fairfax backs $297M (U.S.) CAB Payments offer

M&A / Property Mar 02, 2026 · 03:24

Helios Fairfax Partners Corporation Provides Update with Respect to Offer for CAB Payments Holdings plc

M&A / Property Feb 20, 2026 · 18:58

Helios Fairfax lender FirstRand amends credit facility

Financings