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Oakley confident in the long term as portfolio grows in first quarter

24th Apr 2024 10:59

(Alliance News) - Oakley Capital Investments Ltd on Wednesday reported marginal growth during the first quarter of 2024.

The Bermuda-based private equity firm grew its net asset value in the opening quarter by 3.7% to GBP1.22 billion from GBP1.18 billion last year.

NAV per share increased to 693.00 pence from 668.00p.

"The underlying businesses in the portfolio continue to perform well in an uncertain macroeconomic environment, benefitting from robust demand for their products and services as well as from value creation strategies," Oakley said.

During the first quarter Oakley did not divest from any of its holdings and opted to invest GBP27 million into new companies.

As it stands, Oakley finished the quarter with GBP249 million in cash as well as GBP100 million of undrawn credit facilities which will be deployed into new investments over the next five years.

The company added: "The board closely monitors anticipated fund drawdowns and projected liquidity and will continue its long-term commitment to share buybacks when appropriate."

Oakley shares were up 1.2% to 483.90 pence each in London on Wednesday morning.

By Elijah Dale, Alliance News reporter

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