OCI NAV overview / Portfolio by fund
OCI's underlying investments
(look-through basis)
Direct Investments
Sector | Region | Year of investment | Residual cost £m | Fair value £m | |
|---|---|---|---|---|---|
Direct Investments | |||||
Time Out | Consumer | United Kingdom | 2010 | n/a | 33.9 |
North Sails | Consumer | USA | 2014 | n/a | 159.4 |
Total Direct Investments | 193.3 |
Venture Funds
Sector | Region | Year of investment | Residual cost £m | Fair value £m | |
|---|---|---|---|---|---|
Oakley Capital PROfounders III | |||||
PROfounders Fund III investments | Technology | 5.5 | 5.7 | ||
Total investments | 5.7 | ||||
Other assets and liabilities1 | 1.3 | ||||
OCI's investment in Oakley PROfounders III | 7.0 | ||||
Touring I | |||||
Oakley Touring I investments | Technology | 2023 | 38.6 | 46.0 | |
Total investments | 46.0 | ||||
Other assets and liabilities1 | 1.3 | ||||
OCI's investment in Touring I | 47.3 |
FX movements on portfolio valuations
During the period, FX movements had a varied impact on portfolio valuations, depending on the currency denomination of the underlying assets. GBP denominated investments were largely unaffected by FX translation, as OCI’s reporting currency is also in pounds. In contrast, euro denominated assets benefitted from the weakening of the pound against the euro, resulting in higher GBP equivalent valuations and contributing to unrealised gains when converting to OCI's reporting currency. Conversely, US dollar denominated assets experienced a drag on their valuations, as the dollar weakened relative to the pound during the period. This led to lower GBP equivalent values and unrealised losses upon translation into OCI’s reporting currency.
Read more on the underlying reporting currencies of the Funds within the sector reviews.
Private Equity Funds
Sector | Region | Year of investment | Residual cost £m | Fair value £m | |
|---|---|---|---|---|---|
Fund VI | |||||
Total investments | 0.0 | ||||
Other assets and liabilities1 | 6.4 | ||||
OCI's investment in Fund VI | 6.4 | ||||
Fund V | |||||
Facile | Consumer | Italy | 2022 | 42.4 | 64.5 |
IU Group | Education | Germany | 2023 | 66.2 | 101.1 |
Contabo | Technology | Germany | 2022 | 32.2 | 36.5 |
Phenna | Business Services | United Kingdom | 2022 | 76.8 | 109.9 |
Liberty Dental Group | Business Services | Netherlands | 2023 | 36.6 | 43.2 |
Steer Automotive | Business Services | United Kingdom | 2024 | 74.2 | 75.2 |
ProductLife Group | Business Services | France | 2024 | 41.0 | 44.9 |
Assured Data Protection | Technology | United Kingdom | 2024 | 27.4 | 28.1 |
I-TRACING | Technology | France | 2024 | 55.6 | 55.6 |
Konzept & Marketing | Business Services | Germany | 2024 | 13.8 | 13.9 |
Total investments | 572.9 | ||||
Other assets and liabilities1 | (132.2) | ||||
OCI's investment in Fund V | 440.7 | ||||
Fund IV | |||||
TechInsights | Business Services | Canada | 2022 | 39.1 | 50.4 |
WebPros | Technology | Switzerland | 2020 | 43.4 | 73.1 |
Wishcard Technologies Group | Consumer | Germany | 2019 | 0.0 | 7.2 |
Merz Lifecare | Consumer | Germany | 2020 | 36.6 | 25.1 |
Dexters | Consumer | United Kingdom | 2021 | 7.1 | 44.0 |
Bright Stars | Education | United Kingdom | 2021 | 40.4 | 68.0 |
K12 Investments | Education | United Kingdom | 2022/2023 | 62.9 | 72.9 |
Total investments | 340.7 | ||||
Other assets and liabilities1 | (46.0) | ||||
OCI's investment in Fund IV | 294.7 | ||||
Fund III | |||||
| atHome | Consumer | Italy | 2017 | 0.0 | 12.4 |
Cegid | Technology | France | 2019 | 42.5 | 101.8 |
Iconic BrandCo | Consumer | United Kingdom | 2020 | 25.4 | 24.7 |
Total investments | 138.9 | ||||
Other assets and liabilities1 | 7.7 | ||||
OCI's investment in Fund III | 146.6 |
Sector | Region | Year of investment | Residual cost £m | Fair value £m | |
|---|---|---|---|---|---|
Fund II | |||||
North Sails | Consumer | USA | 2014 | 43.9 | 56.8 |
Daisy | Technology | United Kingdom | 2015 | 8.6 | 1.4 |
Total investments | 58.2 | ||||
Other assets and liabilities1 | (1.3) | ||||
OCI's investment in Fund II | 56.9 | ||||
Origin II | |||||
vitroconnect | Technology | Germany | 2024 | 15.6 | 18.4 |
Infravadis | Business Services | Germany | 2025 | 4.5 | 4.5 |
JBMC | Business Services | Italy | 2025 | 8.3 | 8.3 |
Total investments | 31.2 | ||||
Other assets and liabilities1 | (28.9) | ||||
OCI's investment in Origin II | 2.3 | ||||
Origin I | |||||
Gymondo | Consumer | Germany | 2020 | 9.3 | 21.7 |
ECOMMERCE ONE | Technology | Germany | 2021 | 5.9 | 8.2 |
ACE Education | Education | France | 2021 | 13.4 | 15.3 |
Seedtag | Technology | Spain | 2021 | 0.0 | 10.9 |
Vice Golf | Consumer | Germany | 2022 | 11.2 | 9.1 |
vLex | Business Services | Spain | 2022 | 12.1 | 66.1 |
Hosting.com | Technology | Global | 2023 | 7.9 | 9.6 |
Alerce | Technology | Spain | 2024 | 9.0 | 10.0 |
Horizons Optical | Technology | Spain | 2024 | 8.8 | 10.6 |
Total investments | 161.5 | ||||
Other assets and liabilities1 | (17.9) | ||||
OCI's investment in Origin I | 143.7 |
Totals
Sector | Region | Year of investment | Residual cost £m | Fair value £m | |
|---|---|---|---|---|---|
Total Cash | 108.1 | ||||
Other liabilities / debtors2 | (171.7) | ||||
Total net assets | £1,275.1 |
1. Other assets and liabilities include non-investment-related line items such as debtors and creditors balances.
2. Other liabilities / debtors include OCI's utilised credit facilities as at period-end.
Please note that these tables may contain rounding differences.
Related content
See Oakley Funds strategies
OCI is an investor in funds managed by Oakley Capital, which consist of 'Private Equity' and 'Venture' Funds investing across four strategies: Venture Capital, Growth Tech, Small-mid Buyout, and Mid Buyout.