$^4$He/p ratios for the measured data points as a function of charged-particle multiplicity $\langle {\rm d}N_{\rm ch}/{\rm d}\eta \rangle_{|\eta_{\rm lab}|0.5}$ compared to model predictions. For comparison the result from the 10\% most central Pb--Pb collisions at $\sqrt{s_\mathrm{NN}} = 2.76$ TeV~ and the upper limit at 90\% CL from p--Pb collisions at $\sqrt{s_\mathrm{NN}} = 5.02$ TeV~ is also shown. The thermal model curves are from the CSM~. For the coalescence model two different approaches are displayed: analytical and UrQMD hybrid coalescence~. The analytical coalescence is shown for five different substructures and the thickness of the bands reflects the uncertainties of the calculation. For the UrQMD model the band is representing the statistical uncertainty of the prediction.