Oakley Capital set to benefit from Daisy bid

OCL : Oakley Capital set to benefit from Daisy bid

Oakley Capital Investments saw its net asset value fall to £1.91 from £2 over the first six months of 2014. They attribute most of the decline to a fall in the value of Daisy Group – a listed investment held in Oakley’s Fund I – and a decline in the value of the Euro vs. Sterling.

The good news however is that the price used to value Daisy Group on 30 June 2014 was £1.37 but, on 13 August 2014, Tosca Fund, in conjunction with Penta Capital and Daisy’s CEO, announced a bid for the company at £1.90.

Fund I is effectively fully invested. Oakley has made a commitment of €150m to Fund II and, during the period, Fund II bought Fund I’s interest in, hosting company, Intergenia. Fund II also acquired, marine technology group and leading sail maker, North Sails. Fund I made follow-on investments in Broadstone Pensions and Investments and Time Out Group.