London-headquartered private equity firm Helios Investment Partners LLP aims to raise about US$1.25 billion for a pan-Africa investment fund, Bloomberg News reported, citing people familiar with the matter.

The firm is in discussions with asset managers and development agencies about the vehicle, which would be the largest Africa-focused private equity fund for Helios, the people reportedly said.

Helios, which focuses on African investments, could start fundraising for the vehicle later in 2019, one of the sources told the news outlet.

A spokeswoman for Helios did not comment on the matter, according to Bloomberg.