OCI NAV overview / Investment performance
Consistent long-term returns
OCI's NAV grew from £1,207 million to £1,249 million in the last 6 months, resulting in a NAV per share of 708 pence as at period end. This represents a 4% total NAV return per share since 31 December 2023.
Oakley Fund Investments
Oakley Fund investments comprised 82% of NAV as at period end (December 2023: 65%). The increase was driven by the high volume of new investments during the period.
£1,033m
Direct Investments
Direct Investments made up 18% of NAV at period end (December 2023: 18%). The fair value of the underlying investments, North Sails and Time Out remained largely stable.
£223m
Cash and Other
Reflecting a period of significant investments for OCI, cash of £128 million is offset by £135 million of drawings on the revolving credit facility and other working capital. OCI anticipates proceeds from upcoming realisations of idealista and Ocean Technologies Group, and has access to a further £56 million of undrawn facility in addition to its £128 million cash.
£(7)m
Investments
During the period, Oakley continued to originate proprietary opportunities for its funds across its focus sectors. OCI made total look-through investments of £184 million attributable to:
New investments
New platform deals
£139m
Comprising investments in Steer Automotive, ProductLife Group, Horizons Optical, Alerce and venture investments in Touring I and PROfounders Fund III.
Follow-on investments
Building portfolio strength
£45m
Including additional investments in Phenna, Affinitas, Thomas's, Bright Stars, Liberty Dental, World Host Group and venture investments in Touring I and PROfounders Fund III.
