Oakley Capital Investments Share Discussion Threads

[davebowler] 27/12/2023 13:18

Quoted Data -Despite broader economic challenges, Oakley Capital Investments (OCI) continues to deliver outstanding, market beating shareholder returns. Its focus on cash-generative companies with recurring revenues and asset-light business models means the portfolio remains well insulated as financial conditions have tightened, highlighted by double digit earnings growth over the last financial year. The staggered nature of its investments has provided a consistent stream of realisations (at an average premium of 35%), validating NAVs and providing plenty of financial flexibility. The latest of these, the £240m sale of its stake in IU group, crystalising an 85% IRR. Despite this execution and market leading track record, shares remain at a considerable discount. While this reflects broader market weakness across unlisted assets, it is difficult to see how it can be justified over the long term given the strength of the company's NAV growth.story imageQuotedData | OCI | Private Equity | Global

[davebowler] 21/12/2023 10:16

We get an honourable mention.

[this_is_me] 20/12/2023 20:24

There is no sign of a pull back having gone all the way from 420 to 490.

[rambutan2] 20/12/2023 14:57

I think someone knows a good realisation is in the offing.
AVI had been reducing a little, not adding in big wads.
MIGO held some and has switched management houses to AVI, so comes under the same umbrella.

[makinbuks] 20/12/2023 14:41

If it was just, MIGO changing manager wouldn't have had an effect. AVI have increased their holding but in which fund we don't know

[donald pond] 20/12/2023 11:18

Yes, I think AVI have taken on the management of MIGO. What isn't clear is whether any additional shares have been bought or if it is just the result of adding MIGO to the AVI holdings https://www.assetvalueinvestors.com/migo/#:~:text=As%20at%201st%20December,trusts%20using%20the%20below%20questions.

[donald pond] 20/12/2023 11:13

I thought it was AGT but more likely their managers for more than one fund. IIRC the manager of MIGO may have been jumping house and that may be connected.

[ali47fish] 20/12/2023 07:54

who is adding here rns not clear

[davebowler] 18/12/2023 13:14

Despite broader economic challenges, Oakley Capital Investments (OCI) continues to deliver outstanding, market beating shareholder returns. Its focus on cash-generative companies with recurring revenues and asset-light business models means the portfolio remains well insulated as financial conditions have tightened, highlighted by double digit earnings growth over the last financial year. The staggered nature of its investments has provided a consistent stream of realisations (at an average premium of 35%), validating NAVs and providing plenty of financial flexibility. The latest of these, the £240m sale of its stake in IU group, crystalising an 85% IRR. Despite this execution and market leading track record, shares remain at a considerable discount. While this reflects broader market weakness across unlisted assets, it is difficult to see how it can be justified over the long term given the strength of the company’s NAV growth

[1968jon] 15/12/2023 18:05

Sorry mate, market vernacular, one should not, on an ongoing basis, read anything into market maker stocks trading away from the public best bid and offer in an auction, particularly when such moves can happen on a few hundred quids worth of stock, but when it does happen in good size (quarter of a million quids worth this afternoon), as someone who happens to be long the ying yangs of the stock, I prefer it when it looks like someone is desperate to get into the stock rather than out of it.

[ali47fish] 15/12/2023 16:53

jon write in more simple language to say i pefer itthat way does not edify us

[davebowler] 13/12/2023 15:04

No, ali47fish.Just saw a parallel.

[donald pond] 08/12/2023 09:24

Been a real change of character in recent trading. Someone accumulating

[ali47fish] 07/12/2023 14:49

so is stride bought by oci?

[1968jon] 07/12/2023 13:43

Thanks for that davebowler, I'm surprised I missed it.

[davebowler] 07/12/2023 09:30

Interesting article about online learning Stride with parallels with our IU group

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[apple53] 23/11/2023 10:04

NB to answer my question Dubens is only about 57, sadly. Though maybe he would like to retire soonish to spend more time with his money (sorry, foundation)?

[davebowler] 23/11/2023 09:33

...The AVI team liked OCI’s announcement of a new €190m commitment to Oakley Origin II. That fund will be focused on lower mid-market buyouts, which AVI feels is a key area of strength for Oakley. Oakley is deploying capital into what is more of a buyers’ market. Recent investments include Thomas’s London Day Schools, a dental labs business, an AI-powered marketing platform, and a software business targeting the transport and logistics market.

[makinbuks] 22/11/2023 10:05

Good story

[apple53] 21/11/2023 19:37

re windup as end game, how old dubens?
arguably also end game at tetragon, nascit and others.

Also noted most recent statement mentioned buybacks when appropriate (ie depending on other cash requirements), so seem to be more flexible than other entities in this regard, who normally make it outsourced and automated. I take the view that this helps to underpin the price a little but they won't chase the discount below, say, the historic average.

Dubens has indeed been like a buyback the last couple of weeks, doing a large chunk of the visible volume.

[danieldruff2] 21/11/2023 18:14

Dubens has such a large holding now that he must have an endgame in mind, which won't be to sell it back at a 40% NAV discount. I wonder if he will push for OCI to close shop when he's ready to retire.

[ali47fish] 21/11/2023 09:16

but overall this is a robust company so one should at least hold