Strategic report / Portfolio KPIs
Portfolio key performance indicators
The following KPIs represent the performance of OCI’s underlying Private Equity Funds, comprising OCI’s follow-on investment in North Sails CV, the Origin series, which covers Small-mid Buyout, and the Flagship series, which covers Mid Buyout. The Venture Funds, comprising Touring I and PROfounders III, cover Growth Technology and Venture Capital respectively. These have been excluded from the information below as the performance of the Venture Funds is measured differently from the Private Equity Funds. Please see the Venture Funds section for more performance information.
Oakley Private Equity Portfolio
Net Debt/EBITDA Multiple
4.1x
Strategic relevance
Represents the leverage of the underlying investments in which OCI indirectly invests, and the extent to which earnings cover net debt. The metric links directly to financial risk, interest rate exposure and balance sheet resilience, managed through leverage discipline.
Performance
The Net Debt/EBITDA Multiple of OCI’s underlying portfolio remains broadly in line with prior periods, reflecting a prudent approach to leverage across the portfolio.
LTM EBITDA growth
11%
Strategic relevance
Demonstrates the organic earnings growth of the underlying portfolio companies, which drives the performance of OCI’s investments. EBITDA growth underpins valuation uplift and exit potential and is sensitive to portfolio and performance risk.
Performance
Despite the impact of instability in the current macroeconomic environment, the underlying portfolio continued to deliver a robust performance, resulting in an LTM EBITDA growth of 11%.
EV/EBITDA multiple
16.3x
Strategic relevance
Assists investors to determine the drivers of value in the company’s underlying portfolio. The measure highlights valuation risk, including exposure to multiple compression.
Performance
Enterprise Value (‘EV’)/EBITDA multiples remained stable throughout the period, reflecting limited movement in industry-wide multiples due to persistent macroeconomic challenges and ongoing global uncertainty.
Average entry multiple
14.1x
Strategic relevance
A key metric in helping investors understand the cost of acquisitions, it supports assessment of future return potential and downside risk.
Performance
The slight increase reflects continued pricing pressure for high-quality assets, with strong competition for resilient, scaled businesses driving entry multiples higher.
Please see Glossary for definitions of OCI’s key performance indicators, Alternative Performance Measures and Other Metrics.
Related content
Private Equity Funds
This section provides a detailed review of our flagship Private Equity Funds.
PROfounders III
In this section, we summarise the PROfounders III Fund and provide a review of each of its portfolio companies.
Touring I
In this section, we summarise the Touring I Fund and provide a review of each of its portfolio companies.