Former BP Plc
Hayward is expected to team up with financier Nat Rothschild and Julian Metherell, who is to leave Goldman Sachs
Three sources familiar with the matter confirmed the names of the fund's founders to Reuters, although Hayward last week denied the fund was being set up.
It said the float could happen in the next three to six months, with the three founders set to absorb the first 20 million pounds of any losses made by the fund. It said a list of potential targets had been made in the Middle East, Russia and Africa.
The Financial Times reported on Saturday that Credit Suisse has already begun preparing the investment vehicle for a listing.
(Writing by Neil Maidment, additional reporting by Quentin Webb; Editing by Jon Loades-Carter)