Debevoise & Plimpton LLP has advised Helios Investment Partners ("Helios"), a leading Africa-focused private investment firm, in the sale of its majority stake in Africa Specialty Risks ("ASR") to Vitruvian Partners.

Founded in 2020 by industry specialist Mikir Shah and his team in partnership with Helios, ASR was established to expand specialty insurance and reinsurance capacity across Africa. Today, ASR is a leading developing markets-focused reinsurance platform, with access to global A-rated capacity, and operating the only dedicated Africa-focused syndicate (ASR Syndicate 2454) at Lloyd’s, alongside reinsurers in Bermuda and Mauritius.

The transaction is expected to close later this year, subject to regulatory approvals and other customary closing conditions.

For full details, see the official release here.

The Debevoise team advising Helios was led by international consultant Dr. Clare Swirski, co-head of Debevoise’s UK/European insurance practice, and of counsel Geoffrey Burgess. The team included associates Bethania Berhane, Dabi Olu-Odugbemi, and Edoardo Troina. Tax advice was provided by counsel Paul Eastham and associate Christopher Gossage. Competition advice was provided by counsel Anne-Mette Heemsoth.