LONDON – Oakley Capital Investments Limited (OCI), a listed investment company, has released its quarterly trading update for the period ending September 30, 2024. The company, which invests in funds managed by Oakley Capital, reported a Net Asset Value (NAV) per share of 693 pence and a total NAV of £1,222 million. Despite robust portfolio performance, the total NAV return per share saw a 2% decrease, attributed solely to foreign exchange rates.
The company’s NAV decreased by 15 pence since June 30, 2024, but increased by 19 pence since September 30, 2023. Without the impact of foreign exchange, the increase would have been 7%. OCI’s portfolio companies, operating across Technology, Education, Consumer, and Business Services sectors, have continued to perform well in a challenging macroeconomic environment, taking market share and growing with the support of Oakley’s active management.
During the quarter, OCI made new investments totaling £28 million, including in vitroconnect, a German broadband platform, and other ventures. Post-period, OCI has been involved in several significant transactions, including the sale of Ocean Technology Group and the refinancing of Schülerhilfe. The company also announced a strategic merger of WindStar with Merz Lifecare.
As of September 30, 2024, OCI had cash reserves of £108 million and undrawn credit facilities amounting to £57 million. Following the period end, the company increased its credit facility by £50 million to £225 million. OCI’s outstanding commitments to Oakley Funds stood at £777 million, which are planned for deployment into new investments over the next five years.
The company maintains a proactive approach to managing liquidity and continues its long-term commitment to share buybacks when deemed appropriate. This trading update is based on a press release statement from Oakley Capital Investments Limited.
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