Funds overview

OCI is a listed investment company with the objective of providing consistent, long-term returns in excess of the FTSE All-Share Index by investing in the Funds managed by Oakley Capital, thereby benefiting from any performance generated by a leading private equity manager. Oakley leverages its differentiated business founder network to source attractive investment opportunities and then applies proven value creation strategies to accelerate sustainable growth.

Total outstanding commitments to Oakley Funds were £1,015 million at the year-end. During the year, OCI made a commitment of $100 million in Oakley Touring Venture Fund, which focuses on AI-powered software companies, and €190 million in Origin II, which will continue the strategy of its predecessor fund, Origin I, backing tech-enabled businesses across Europe's lower mid-market. These commitments are expected to be deployed in new investments over the next five years, funded with existing balance sheet cash as well as expected proceeds from future realisations. Furthermore, Fund I distributed its last remaining investment, Time Out, as it reached the end of its investment period on 30 November 2023 and commenced its wind up process.

The Company also extended its multi-currency revolving credit facility for a further two years and obtained increased commitments from lenders to £175 million, with an option to increase by a further £50 million.