Helios Investment Partners, a private investment firm focused on Africa, announced that it generated approximately $460 million in realised liquidity in 2025. This was achieved through multiple exits within the year, demonstrating the firm's ability to build and scale market-leading African businesses. The realised liquidity reflects Helios' continued focus on creating businesses with the scale, resilience, and institutional strength to attract their next pool of capital.
One of the notable exits that contributed to the realised liquidity is the listing of T2S Group on the Casablanca Stock Exchange. The Initial Public Offer (IPO) raised MAD 1.1 billion, equivalent to approximately $120 million, and valued the company at around MAD 4.9 billion, or about $520 million. The offering was oversubscribed 44 times, attracting strong demand from Moroccan and international investors. This significant milestone marks a new phase of growth for the Moroccan MedTech business.
T2S Group has over 30 years of operating history and has developed into an integrated MedTech platform. The platform spans medical equipment distribution, manufacturing, digital systems, and technical services, serving healthcare providers across Morocco and other African markets. Since Helios invested in T2S in 2021, four complementary businesses have been integrated into a single platform. This integration has been accompanied by investments in governance, management, operations, technology, and commercial capabilities.
The integration of businesses and investments in T2S has strengthened the group's ability to provide services across the healthcare value chain. This includes equipment distribution, technical support, maintenance, and specialised medical technologies. T2S has also contributed to the development of Morocco's healthcare ecosystem, supporting access to advanced medical technologies while investing in radiopharmaceutical capacity and local engineering and technical capabilities.
The listing on the Casablanca Stock Exchange provides T2S with greater visibility and access to capital as it enters its next phase of expansion. For Helios, the transaction demonstrates the range of pathways available to portfolio companies as they mature. Public markets offer an opportunity to broaden the shareholder base and access new capital while allowing Helios to retain a significant stake in the business.
Following the IPO, Helios remains T2S' largest shareholder with a 42 per cent stake. The transaction showcases Helios' investment strategy, which combines world-class investment capabilities, deep local knowledge, and strong global connectivity. This approach enables Helios to build and scale market-leading African businesses and generate globally competitive returns with lasting impact.
With over 20 years of investing experience, Helios has built a predominantly African team operating across London, Lagos, Nairobi, and Paris. The firm's investments span multiple sectors and more than 35 African countries, including private equity, climate, and digital ventures. Helios' realised liquidity in 2025 highlights its ability to create value and generate returns in Africa's high-growth and under-penetrated markets.
Key points
- Helios Investment Partners generated $460 million in realised liquidity in 2025.
- T2S Group's listing on the Casablanca Stock Exchange raised MAD 1.1 billion, equivalent to approximately $120 million.
- Helios remains T2S' largest shareholder with a 42 per cent stake following the IPO.
