22nd Apr 2015 10:25
LONDON (Alliance News) - Oakley Capital Investments Ltd Wednesday said that investment adviser Oakley Capital Ltd sees opportunities to complete exits from its fully invested fund and to make further investments in its second fund.
"In aggregate, 93.5% of total commitments have been called by Fund I, and bearing in mind the requirement to retain headroom for follow-on investments in certain existing portfolio companies, Fund I is now effectively fully invested. The investment adviser anticipates additional realisation opportunities for this Fund in 2015," Chairman Christopher Wetherhill said in a statement.
"The investment adviser continues to identify a strong deal pipeline of attractive investment opportunities for Fund II. A demonstration of the quality of the opportunities is that, to-date, Fund II has already invested 44% of total commitments in new portfolio companies. It is expected that the current pipeline will produce further investment recommendations," Wetherhill added.
Oakley Capital Investments, a vehicle that gives investors exposure to the investment strategy pursued by Oakley Capital Private Equity LP and Oakley Capital Private Equity II, said its net asset value increased to 201 pence per share at the end of 2014, up from 191p at the end of June that year and 200p at the end of 2013.
Oakley Capital Private Equity LP is known as Fund I, with Oakley Capital Private Equity II is referred to as Fund II.
While Oakley Capital Private Equity LP is considered fully invested and has been making realisations, Oakley Capital Private Equity II has been building up its portfolio, taking stakes in marine technology group North Sails and Italian price comparison site Facile.it, as well investments in other companies.
"2014 was an excellent year for OCIL, which saw intense deal activity generating strong returns for investors and the rapid deployment of Fund II, which has already invested 44% of total commitments in new portfolio companies," Peter Dubens, director, said in a statement.
"We expect to continue to divest Fund I portfolio companies this year, building on its gross money multiple of 3.1x and IRR (internal rate of return) of 45% on exited investments. Fund II has had a good start to the year, with completion of the intergenia sale and a strong pipeline of further interesting deal opportunities," Duben said.
Oakley Capital Investments shares were down 1.0% at 172.00p late Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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