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Oakley Capital Investments reports NAV per share up to 707p, expands 2025 buyback by £30m. Insights on portfolio growth & strategy.
This article covers information on Oakley Capital Investments Limited.
LON:OCIAnother quarter, another set of numbers from Oakley Capital Investments (OCI) – and this one’s got more layers than a mille-feuille. Let’s slice through the pastry and get to the juicy bits.
OCI’s NAV per share hit 707p (£1.25bn total NAV), marking a 2.1% quarterly return including dividends. But here’s the kicker: while NAV crept upwards, total shareholder return clocked in at -5%. Translation? The market’s still pricing OCI shares at a discount to NAV – a persistent theme that’s got the Board reaching for the buyback button (more on that later).
The underlying portfolio showed its mettle despite macroeconomic headwinds:
On the geopolitical front, management’s stress-testing US tariff impacts reveals just 2% revenue exposure across the portfolio. When 98% of your cash flows are tariff-proof, you’re either very lucky or very good at portfolio construction. I’ll let you decide which.
OCI’s playing 4D chess with its balance sheet:
Liquidity position looks healthier than a yoga instructor:
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That’s enough dry powder to make Guy Fawkes blush. Though investors should note – first significant Fund VI deployments aren’t expected until late 2026. Patience required.
Caroline Foulger’s stepping down after 9 years as Chair, with succession plans underway. No drama here – standard UK governance rotation. But worth watching who fills those shoes come September’s AGM.
Three things stand out:
For investors? OCI remains a play on private markets alpha generation wrapped in a liquid shell. The buyback boost signals confidence, but the real test comes when Fund VI starts swinging its €500m bat.
Mark your diaries: Next update drops 30 July. Until then, the full factsheet’s worth a skim – if only to see how they’re positioning that cyber security joint venture with Bridewell.
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