13th Mar 2025 14:17
(Alliance News) - Oakley Capital Investments Ltd on Thursday reported a slowdown in its total return for 2024, as "macroeconomic volatility" contributed to its swing to a fair value loss on investments.
The London-based investment firm, which provides access to funds managed by Oakley Capital, delivered a total return per share of 2% for 2024, or 6%, when excluding the impact of foreign exchange movements. This compared to a 4% return in 2023 and a 24% return in 2022.
OCI's net asset value per share at December 31 was 695 pence, up 1.6% from 684p the year before, and equating to a total NAV of GBP1.23 billion.
Shares were up 0.3% at 471.56p each in London on Thursday afternoon. The stock has risen 1.2% over the past twelve months.
OCI declared a final dividend of 2.25p per share, taking the total dividend to 4.50p, unchanged from the year before.
"Macroeconomic volatility in the past 24 months created optimal conditions for the deployment of capital, with increasing numbers of businesses seeking a private equity partner to help finance and deliver growth," said Oakley Capital Managing Partner Peter Dubens.
Total income for the year fell 27% to GBP41.9 million from GBP57.1 million, as the firm swung to a net realised loss of GBP42.0 million on investments at fair value, from gains of GBP181.2 million the year before.
Operating profit settled 31% lower at GBP34.0 million against GBP49.1 million in 2023.
Dubens continued: "Oakley's positioning as the partner of choice for ambitious founders and management teams helped to deliver a record year for deployment, with 8 new platform deals. The portfolio has proven its ability to deliver resilient growth throughout cycles, and the potential for more favourable trading conditions and more robust [mergers & acquisitions] markets, give us further confidence in the outlook for 2025 and beyond."
OCI will release a first-quarter trading update on April 30.
By Emily Parsons, Alliance News reporter
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