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Oakley Capital invests £53m and receives £57m over H1

Oakley Capital invests £53m and receives £57m over H1 – The private equity sector company, Oakley Capital (OCI), has provided some high-level figures from its first half results to June 30 2019.

OCI estimated its NAV at June-end to be in the range of £644m – £651m, which would equate to an NAV per share of 315 pence – 318 pence. This would represent an NAV return of at least 13% over the six-month period since 31 December 2018 and at least 23% since 30 June 2018. Total shareholder return in the six-month period to 30 June 2019 was 33%.

Portfolio highlights

Two notable contributors to NAV growth were Inspired (a UK-based premium private school group), due to the partial sell down in May, at an 81% premium to the book value as at 31 December 2018, and Time Out (the travel-based content company), due to a share price increase of 60% over the period.

With respect to proceeds over the period, OCI received £30m from its share of proceeds from the Oakley Capital Fund II partial sell down of Inspired was. OCI also received a total of £27m from the refinancings of Career Partner Group and WebPros. 

Signed investments total £53m

OCI sourced three new investments over the period. Two of these deals, Ekon and Seagull & Videotel, have completed, accounting for £18m and £20m. The third acquisition, Rastreator & Acierto, is expected to complete after the period end and will require an estimated investment of up to £15mfrom OCI.

OCI: Oakley Capital invests £53m and receives £57m over H1

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