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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Oakley Capital Investments Limited | OCI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 0.19% | 516.00 | 16:35:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 515.00 | 515.00 | 515.00 | 516.00 | 515.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 21/6/2024 12:27 by davebowler 11 June 2024Oakley Capital Investments Limited Oakley Capital Investments Limited1 ("OCI") is pleased to announce that Oakley Capital Fund V2 ("Fund V") has been granted exclusivity with a view to acquiring a co-controlling stake in I-TRACING, the leading independent provider of cyber security services in France. OCI's indirect contribution via Fund V is expected to be up to c. £39 million, which relates to OCI's share of Oakley's investment in I-TRACING. Further details on the transaction can be found in the below announcement from Oakley Capital3. Oakley to invest in cybersecurity services provider I-TRACING in partnership with Eurazeo Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund V has been granted exclusivity with a view to acquiring a co-controlling stake alongside Eurazeo in I-TRACING, the leading independent provider of cybersecurity services in France. The transaction is subject to consultation with I-TRACING's employee representative bodies as well as regulatory clearances. Founded in Paris in 2005, I-TRACING is the leading, pure play, French managed cybersecurity services provider ('MSSP'), working with blue-chip companies in the enterprise and midmarket sectors. I-TRACING offers clients a one-stop-shop service including CyberDefence, Managed Detection & Response services, Identity & Access Management, Cloud Security and Data protection and Audit. One of the company's key differentiators is its premium Security Operations Centre (SOC) managed services offering, protecting complex environments on a 24/7 basis, leveraging an integrated international "follow-the-sun" operating model. I-TRACING has expanded globally over the last decade to meet the needs of its customers' own internationalisation and today the Company employs around 700 cybersecurity experts across France, Canada, Hong Kong, Malaysia, China, Switzerland and the U.K. I-TRACING has more than doubled in size over the last three years, driven by organic revenue growth of c.30% per annum supplemented by acquisitions. The company has benefitted from growing demand for mission-critical cybersecurity services driven by the increased complexity of IT architecture, the rapidly growing volume and sophistication of cyber threats and the ongoing shortage of cyber talent which is driving greater levels of outsourcing. All of these are long term trends which are expected to continue driving strong growth in the years ahead. The investment in I-TRACING continues Oakley's strategy of backing exceptional founders with a proven track record of creating successful businesses. Oakley will work alongside I-TRACING's founders and management, in partnership with existing anchor investor Eurazeo, as well as Sagard NewGen reinvesting as a minority investor. All stakeholders will work jointly to help drive the next stage of the Company's growth and realise its ambitions to become a European champion in cybersecurity services. I-TRACING will capitalise on its leading market position to grow its blue-chip client base, pursue further M&A opportunities, while also continuing to attract the best talent as the employer of choice in cybersecurity with 250 new hires planned for 2024. This will be Oakley's third investment in France after higher education platform ACE Education, and ProductLife Group, a provider of regulatory and compliance services to the global life sciences industry. It will also be Oakley's fifth deal in five months, extending a period of significant deal activity for the firm. Oakley Capital Founder and Managing Partner Peter Dubens said: "I-TRACING is a business we have followed for many years. We are pleased to now have this opportunity to partner with Théodore and his fellow co-founders on the next phase in the company's history. The attractive drivers of growth in this market are structural and long term and we believe I-TRACING will continue to prosper as the partner of choice for blue chip companies across Europe, leveraging its strong reputation and unrivalled technical capability." I-TRACING co-Founder and President Théodore Vrangos said: "We believe that there is significant untapped potential for further organic and external growth to create a leading MSSP in Europe. The combination of Oakley Capital and Eurazeo as investors with significant complementarity and alignment will enable us to accelerate our international growth journey, while ensuring we can sustain our values, the quality of our expertise and the commitment to our clients while preserving an attractive environment for our talented teams." |
Posted at 30/5/2024 11:31 by donald pond Reading the HVPE Annual Report today it is good to see that they are increasing their allocation to Europe as they see good opportunities there. As OCI will often be looking to move assets to later stage PE investors that's very positive |
Posted at 20/5/2024 11:29 by davebowler Oakley Capital invests in German broadband open access platform vitroconnectOakley Capital, the leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin II has agreed its first investment, acquiring a majority stake in vitroconnect, one of the leading broadband open access platforms in Germany. Oakley is investing alongside founder and CEO Dirk Pasternack and his management team who will continue to run the business. The transaction is subject to regulatory approval and is expected to complete around the end of H1 2024. Based in Gütersloh, Germany, vitroconnect connects broadband providers with resellers through a proprietary, single interface software platform. The company works with most of Germany's leading telco players, offering process automation, network operations, brokerage and white-label services through its Carrier Aggregation Platform ('CAP'). vitroconnect's CAP-enabled intermediation services help customers utilise broadband networks more efficiently and reduce transaction costs significantly for all parties involved. This unique offering has allowed the company to steadily expand its customer base of network operators and resellers, with minimal customer churn, strong net retention and a high share of recurring revenues contributing to consistent and profitable double-digit growth over the last three years. As a key enabler of wholesale activities in the highly fragmented and technologically heterogeneous German broadband marketplace, vitroconnect is poised to benefit from the significant proliferation of fibre to the home ('FTTH') technology as Germany catches up with European peers. Germany currently has one of the lowest rates of homes connected to fibre broadband. This is attracting significant investment in fibre technology which will underpin future market growth with the number of connected homes expected to grow from three million today to 29 million by 2029 and 39 million by 2035. Oakley's investment in vitroconnect further adds to a long track record of partnering with high growth and profitable founder-led businesses. Relevant Oakley deals in adjacent sectors span across software businesses including WebPros, Horizons Optical and Alerce. Oakley Capital co-founder and Managing Partner Peter Dubens said: "vitroconnect is set to benefit from the transformational change underway in Germany's broadband market as the country pivots to fibre technology. The company has established a market leading position thanks to its customer focus, strong technical capabilities and excellent management. Oakley looks forward to working with Dirk and his team, combining vitroconnect's core strengths with our own sector capabilities to help further accelerate its growth." vitroconnect founder and CEO Dirk Pasternack said: "We were attracted to Oakley's strong track record in the software and telco space, in particular its proven ability to guide companies through inflection points. We look forward to partnering with Oakley as we embark on the next stage of vitroconnect's growth plan." |
Posted at 17/5/2024 16:29 by davebowler The Resilient Investor: Oakley CapitalWhy do businesses want to stay private for longer? Steven Tredget, Partner at Oakley Capital, sits down with David Stevenson to discuss the rich hunting grounds that exist outside the listed sphere. With costs, stringent reporting requirements and restrictions in M&A all weighing on companies when listing on the UK market, businesses are increasingly looking to remain private for longer. How Oakley Capital, and other private equity firms, supporting these companies' growth while offering investors unique exposure outside listed equities? |
Posted at 24/4/2024 11:33 by 1968jon Sorry, this is going to be a bit long....I think you could go mad hoping for a narrowing of the discount. I think I just have to trust the Oakley process. There are reasons (not all of them daft) why most PE trusts have historically traded at a discount. Let's just say for fun that 3-10 years ago those discounts were high teens to early/mid twenties percent. Then a whole bunch of stuff happened in the last 3 years that scared some people witless about private markets - Woodford was arguably a starting point but a lot happened post him. Discounts on many trusts moved out to mid 30s to high 40s percent. Fair? Who cares. Anyway, valuations are still not trusted by enough people. I give you this headline from a press round up today..."UK banks are leaving themselves open to ‘severe, unexpected losses’ by failing to properly measure how exposed they are to the $8tn (£6.44tn) private equity industry, the Bank of England has warned." From the grauniad but it is everywhere. I know that the large global wealth managers are still shovelling the very wealthy into PE hand-over fist but suggest to the average punter who can't write a six or seven figure ticket that they should have some PE trusts in their SIPP and see where it gets you. (Notwithstanding that you can't buy OCI on some platforms and most small wealth managers/IFAs can't access trusts at all) I think there are a few pertinent facts. I know that many investors in good UK PE firms are currently able to trade in the secondary market at ranges from a discount of 15% of NAV upto NAV depending on fund. I have no insight on OCI itself in that regard but if you trust the portfolio you'd have to believe they were at least in that range. I think their published increase in NAV from March'23 - to March'24 is hugely interesting - about 4.4%. After divs they've underperformed the FTSE, never mind the nearly 30% return from the S&P Far from being discouraged, I think it is remarkably conservative and might give people confidence that the valuations are realistic. |
Posted at 22/3/2024 13:15 by 888icb IC Article yesterday:“ This PE company has trebled your money and is still a bargain It continues to deliver strong shareholder returns from a portfolio that offers defensive characteristics and benefits from structural market growth Simon Thompson Net asset value per share up from 662p to 684p 17 per cent of book value in cash Private equity investment company Oakley Capital Investments (OCI:465p) delivered a net asset value (NAV) total return of 4 per cent last year, but there should be no complaints from investors who enjoyed an 18 per cent total shareholder return (TSR). It takes the five-year annualised TSR to 24 per cent, during which time those who bought in when I announced my 2016 Bargain Shares Portfolio have trebled their money. Oakley’s portfolio is focused on three core market segments – technology (23 per cent of portfolio), education (21 per cent) and digital consumer (42 per cent) – which delivered 14 per cent organic growth in cash profit, a key driver behind the valuation uplift. It highlights the portfolio’s ability to sustain growth rates even during challenging economic conditions. The fact that two-thirds of portfolio companies operate a subscription-based or recurring revenue business model means that they are far less exposed to short-term falls in customer demand. The majority of Oakley’s investments also have defensive characteristics, benefit from strong structural market growth, and have asset-light business models and high cash conversion rates. Importantly, portfolio companies’ leverage ratios (4.2 times cash profit to net debt) are well below the private sector industry average (six to seven times), and last year’s average entry multiple on new investments (12.4 times cash profit to enterprise valuation) was 24 per cent below the portfolio average. So, as investee companies mature, they benefit from multiple expansion and organic-growth-drive |
Posted at 14/3/2024 09:20 by davebowler The Board continues to work towards the resolution and value maximisation of OCI's two direct investments of Time Out and North Sails. Developments in 2023 included: the receipt of an in-specie dividend of Time Out shares from the ongoing closure of Fund I which rationalised OCI's Time Out holdings in a single direct stake, giving greater autonomy over the holding; and converting OCI's outstanding North Sails loans and accrued interest into preferred equity. This was done alongside a wider organisational and capital restructure of the North Sails Group which improves OCI's overall security, creates an incentive for redemption and helps simplify the North Sails' capital structure, enhancing the attraction of the business to future investors. Time Out recently publicly reported strong half year results while North Sails delivered another record year for 2023. |
Posted at 02/3/2024 22:39 by mrscruff MACD is a technical, its just a short term momentum showing the direction of the share price. Traders use it to trade. I would ignore it if you are an investor because the long term-trend is upwards and healthy... its just a little volatile. I would not trade it as it could shake you out of OCI that is clearly the best value private equity in Europe. If it drops 4-5% buy some more. |
Posted at 02/1/2024 12:16 by davebowler Oakley Capital Investments Ltd on Friday said its direct shareholding in London-based publisher and food markets operator Time Out Group PLC has increased as a result of a transfer of shares.The Bermuda-based firm, which provides access to private equity investments of Oakley funds, said Fund I has transferred its shares in Time Out in-specie to its investors.As a result, OCI's direct stake in Time Out has risen to 38.06% from 19.97%. This represents a total of 5.8% of OCI's net asset value at September 30, it said. |
Posted at 25/8/2023 14:51 by davebowler 18 August 2023Steven Tredget says private investors are replacing wealth firms on its shareholder register, although he notes individual wealth managers have snapped up its shares on a wide discount. Oakley Capital Investments (OCI ) says interest in his trust from retail investors has grown exponentially since the onset of the Covid-19 pandemic. Steven Tredget, a partner at Oakley Capital responsible for the investment company that invests in its funds, told Citywire that in 2020, 3% of OCI’s share register was retail investors. That number has now grown five-fold to 15%. Tredget, a partner at OCI’s manager Oakley Capital, noted that this money was replacing investment from wealth managers who are often restricted from holding investment trusts an closed-end funds. ‘There’s greater interest from private investors going into private equity (PE) for the first time,’ he said. ‘We’ve also noticed wealth managers, who are prohibited from buying our trust for their clients, are buying the trust in their personal portfolios.’ The £812m trust currently trades at a 31% discount to its net asset value (NAV) – a level which is not unusual for private equity trusts in the current uncertain environment. Numis Securities recently said that OCI’s price represented ‘exceptional value’. According to the Association of Investment Companies, 14 out of 17 private equity investment companies traded at double-digit discounts in June. Wealth managers were historically major buyers of listed private equity funds but have cooled on the sector since many funds ran into trouble during the financial crisis. More recently, consolidation among wealth managers has also made it harder for all but the largest trusts to find a place in the centralised portfolios of these bigger firms. ‘Icing on the cake’ Like other private equity managers, Tredget believes current pricing is ‘inefficient&# ‘We’ve had earnings growth in our companies. The discount is a complete red herring, and a distortion of the situation,’ he said. ‘There’s a lack of trust in PE company valuations, and there’s a low expectation of future returns. But the discount provides an icing on the cake for investors.’ He added that more than 60% of the consumer-facing, media and education companies in the portfolio have ‘had some kind of pricing event within the past 12 months’. In its interim results OCI, which acts as an effective shop window to private equity manager Oakley Capital, revealed that it had invested $100m (£79m) in an artificial intelligence (AI) venture fund launched by its parent company. The update for the first half of 2023 also revealed that its £1.1bn portfolio had generated an underlying investment return of 0.5% with 2.5p per share of dividends included. Those fairly modest returns should be viewed in the context of a 158% total return for shareholders in the five years to 17 August. That is triple the 49% gain for the MSCI World index, according to Morningstar data. ‘The modest increase in asset value reflects the company’s cautious approach to trading outlook and valuation multiples, and the fact that half of the NAV was not subject to change in the period,’ OCI said in a trading update. ‘This results from approximately 50% of the asset value being held in cash, or underlying investments that were valued based upon a transaction within the last 12 months.’ ‘It’s hard to explain listed PE’ Tredget added that wealth managers have a ‘hard time’ buying investment trusts more generally. ‘It’s hard to explain listed PE to investors, especially with the discount factor,’ he said. ‘There’s this view that PE is elitist and inaccessible, and the perception of vultures of old. The likes of Woodford and Chrysalis (CHRY ) have also impacted the industry.’ Tredget does not, however, believe that a share buyback policy is the best way to close OCI’s discount. ‘We only do a buyback when we think it’s the best way to deploy capital,’ he said. He did acknowledge that it is often a good way for a trust to signify its confidence in its net asset value. |
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