Strategic report / OCI NAV overview
Consistent long-term returns
Over the last 12 months, OCI's NAV grew to £1,226 million from £1,207 million, resulting in a NAV per share of 695 pence and a total NAV Return per share of 2%. This has provided modest returns for shareholders during a period of investment, despite challenging macroeconomic conditions.
Oakley Fund Investments
In a year focused on active capital deployment, OCI deployed £299 million into new investments and follow-on deals, maximising future returns, with NAV fully invested at the year end and Oakley Fund Investments representing 81% of total investments.
£998m
Direct Investments
Direct Investments were £231 million at the year end, £77 million of which relates to Time Out and £154 million to North Sails. $107 million of preferred equity was converted to ordinary equity in North Sails in the year.
See Direct Investments section
£231m
Cash and Other
At the year-end OCI has £225m of liquidity comprising £103m of cash and £122m of available credit.
See Cash and liquidity section
£0m
OCI NAV overview / Fund investments
Investments in 2024
During the period, OCI made total look-through investments of £299 million, as Oakley continued to originate propriety opportunities across its strategies and sectors:
New private equity investments
New platform deals
£214m
Comprising investments in Steer Automotive, ProductLife Group, I-TRACING and Assured Data Protection.
Private equity follow-on investments
Building portfolio strength
£54m
Including bolt-on acquisitions by Steer, Phenna Group, Bright Stars and Affinitas.
New and follow-on venture investments
Focused on growth prospects
£31m
Including new Touring investments in SafeBase and Safely You and bolt-on acquisitions in Netradyne and new Profounder III investments in QA.tech and Qneiform.
Related content
Portfolio activity in 2024
Find out more about each of the investments that were made by Oakley Capital Funds in the past year.
Portfolio overview
This section provides a performance snapshot of our Private Equity Funds Portfolio.
Venture Funds review
In this section, we summarise the portfolio companies within our Venture Funds (Touring I and PROFounders III).