Helios Investment Partners has acquired 100% ownership of Crown Agents’ financial services businesses, Crown Agents Bank (CAB) and Crown Agents Investment Management (CAIM).

The financial details of the transactions were not disclosed.

Tope Lawani, co-founder and Managing Partner of Helios Investment Partners, said Crown Agents’ financial services team is renowned for providing specialist financial solutions in emerging markets, principally Africa and the Caribbean.

“Helios is delighted to be partnering with the experienced management team, and we look forward to bringing our African knowledge and financial services expertise to bear in realising the significant growth potential of these businesses,” he said.

“We believe these are unique assets with a hard-to-replicate platform and a strong brand. Underserved markets in Africa, the Caribbean and South East Asia will benefit from a renewed commitment by Crown Agents to be a trusted provider of financial solutions,” he added.

Crown Agents is an international development company that partners with governments, aid organisations and the private sector in almost 100 countries around the world.

Founded in 1833 and operated as a British statutory corporation for many years, Crown Agents was privatised in 1997.

CAB and CAIM are specialist providers of payment, cash management, trade, treasury and investment services, focused on the needs of governments, development organisations, financial institutions and corporates.

They are experts in working with emerging and fragile markets, and offer tailored, practical and effective solutions built on deep local knowledge and experience of complex environments.

David Richardson, Crown Agents CEO, said: “In Helios we have found a buyer for our financial services businesses with an ethos and values similar to our own. Helios’ deep knowledge and experience of African markets and the financial services sector will further strengthen CAB and CAIM’s long standing role as the partner of choice in addressing the issue of financial exclusion in frontier markets.”

“Helios’ vision for the future of the financial services operations and its professional ethos align with those of Crown Agents, ensuring that they will remain long-term strategic partners. We look forward to continuing our working relationship with the CAB and CAIM,” he said.

Crown Agents was advised by Deloitte’s Financial Institutions Group led by Anurag Verma and Richard Monahan.