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TORONTO, Nov. 11, 2025 (GLOBE NEWSWIRE) — Helios Fairfax Partners Corporation (TSX: HFPC.U) today announced its financial results for the three and nine months ended September 30, 2025. All dollar amounts in this press release are expressed in U.S. dollars unless otherwise noted. The financial results are derived from the interim consolidated financial statements prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board (“IFRS Accounting Standards”) applicable to the preparation of interim financial statements, including International Accounting Standard 34, Interim Financial Reporting, unless otherwise stated.
Management comment
“The third quarter of 2025 was another period of book value growth and strong net income, reflecting
The continued momentum of our Helios managed investments and the added value created by the underlying Helios platform,” said Tope Lawani and Babatunde Soyoye, co-CEOs of Helios Fairfax Partners. We have also advanced the development of strategies including Helios Sports & Entertainment. With the first close of Helios Fund V and growing investor interest in our platform, we remain confident in our ability to deliver sustainable capital growth and long-term value for our shareholders.”
Highlights during and after Third quarter from 2025
- Book value per share in the third quarter of 2025 was $4.05, compared to $3.96 in the second quarter of 2025.
- HFP reported net income of $9.7 million for the third quarter of 2025, compared to net income of $11.6 million in the second quarter of 2025.
- The increase in book value per share compared to the second quarter of 2025 and net income in the third quarter of 2025 was primarily due to unrealized gains associated with Helios Managed Investments and TopCo LP's Class A and Class B limited partnership interests. These unrealized gains were offset by unrealized losses on the company's investments in Nova Pioneer's indirect equity investments.
- During the quarter, HFP committed $4.5 million under its $10 million credit facility with HSEG.
- During the quarter, HFP funded a $0.6 million capital call for Helios Fund V.
- HFP has committed to invest $20 million in Helios Fund V, which completed its first close. HFP has also committed to contribute $2.0 million toward the management team's liability for Helios Fund V, which will entitle HFP to a 50% share of any book interest the fund generates in the future through ownership of TopCo LP Class A. Through ownership of TopCo LP Class B, HFP will also be entitled to receive additional management fees from this fund.
Financial position and results of operations
HFP reported net income of $9.7 million in the third quarter of 2025, compared to net income of $4.0 million in the same period in 2024. Net income includes $12.5 million of net income from Helios' managed investments, primarily driven by strong performance of underlying investments. Net income also included a $7.4 million net gain on an investment in TopCo LP's Class A limited partnership capital, primarily driven by the completion of the Helios CLEAR Fund's first investment, which supported the recognition of expected interest rates, as well as improved expectations for realized value from the underlying investments, as well as a $2.5 million net gain on an investment in TopCo LP's Class B limited partnership capital, primarily driven by an increase in forecast fee income management.
HFP reported a net profit of $22.1 million for the first nine months of 2025, compared with a net loss of $17.2 million for the same period in 2024. Net income includes $48.2 million of net income from managed Helios investments, primarily driven by strong performance of the underlying investments, and $7.8 million of net income from investments in TopCo LP, primarily driven by the completion of the first Helios CLEAR Fund investment. which contributed to the recognition of expected book interest rates and also improved expectations for the realization of the value of TopCo LP's Class A limited partnership interest from the underlying investment.
Net income for the first nine months of 2025 was also impacted by expenses of $16.7 million, partially offset by interest income of $4.0 million. The increase in expenses compared to expenses incurred during the same period in 2024 primarily reflects the company's business decision to pay $2.7 million for certain expenses to the Helios Seven Rivers Fund.
The increase in book value per share to $4.05 as of September 30, 2025 from $3.84 as of December 31, 2024 was primarily due to unrealized gains on the Company's investment in Helios Managed Investments.
As of September 30, 2025, the carrying value per share included cash and cash equivalents of $15.5 million. HFP had 108,291,576 shares of common stock outstanding as of September 30, 2025, compared to 108,179,127 as of December 31, 2024.
HFP's detailed third quarter report can be found on its website. www.heliosinvestment.com/helios-fairfax-partners.
About Helios Fairfax Partners
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, as well as in African businesses or other businesses with customers, suppliers or businesses primarily conducted in or dependent on Africa.
Contact information
Neil Weber
LodeRock Advisors
[email protected]
(647) 222-0574
This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may address the company's future prospects or portfolio investments, as well as expected events or results, and may include statements regarding the company's financial condition, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives. In particular, statements regarding the future results, performance, achievements, prospects or opportunities of the company, portfolio investments or the African market are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “expects”, “budget”, “scheduled”, “estimates”, “predicts”, “intends”, “expects” or “does not expect” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “may”, “will”, “could”, “would” or “will be accepted,” “will occur,” or “will be achieved.”
Forward-looking statements are based on our opinions and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including, without limitation, the following factors: geopolitical risks; inflation and interest rate fluctuations; tariffs; financial market fluctuations; rate of completion of investments; minority investments; reliance on key personnel and risks associated with the Investment Advisory Agreement; concentration risk in portfolio investments, including geographic concentration and with respect to the Class A and Class B limited partnership interests of Portfolio Advisor; operational and financial risks of portfolio investments; assessment methodologies involve subjective judgments; lawsuits; cybersecurity and technology; dependence on third parties; use of leverage; foreign currency fluctuations; investments may be made in foreign private businesses where information is unreliable or unavailable; significant ownership by Fairfax Financial Holdings Limited (“Fairfax”) and HFP Investments Holdings SARL (“Ultimate Holding Company”) may adversely affect the market price of the subordinated voting shares; emerging markets; Black Economic Empowerment in South Africa; South Africa gray list; economic risk; climate change, natural disasters and weather risks; tax risks; MLI; and the trading price of the subordinated voting shares relative to the book value per share. Additional risks and uncertainties are described in the company's annual information form dated March 28, 2025 which is available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.heliosinvestment.com/helios-fairfax-partners. These factors and assumptions do not constitute a complete list of factors and assumptions that may affect the company. However, these factors and assumptions should be carefully considered.
Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as expected, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements contained herein except as required by applicable securities laws.
GLOSSARY OF NON-GAAP AND OTHER FINANCIAL MEASURES
Management analyzes and evaluates the financial position of the combined company in a variety of ways. The measure included in this press release, which has been consistently used and regularly disclosed in the Company's annual reports and interim financial statements, does not have a prescribed meaning under IFRS accounting standards and may not be comparable to similar measures presented by other companies. This measure is described below.
Book value per share – The Company views book value per share as a key performance indicator in assessing its goal of long-term capital appreciation while preserving capital. Book value per share is a key indicator of a company's performance and is closely monitored. This ratio is calculated by the company as common shareholders' equity divided by the number of common shares outstanding.
