Oakley Capital Investments Share Discussion Threads

[brexitplus] 07/6/2021 07:34

New investments in RNS

“Oakley Capital Investments Limited1 ("OCI") is pleased to announce that Oakley Capital Origin Fund2 ("Origin Fund") has acquired controlling stakes in Afterbuy and DreamRobot, leading providers of e-commerce software in the German-speaking region.

OCI's indirect contribution via Origin Fund will be £6 million.

Note that the above figure only relates to OCI's share of Origin Fund's overall investment in Afterbuy and DreamRobot.

OCI's liquid resources available for future deployment (including this transaction) are estimated to be £173 million.”

[essentialinvestor] 02/6/2021 14:51

Looking like 3.40 plus by the end of this week.

[essentialinvestor] 02/6/2021 10:43

Building up a head of steam now.

[essentialinvestor] 01/6/2021 14:25

3i sells on an extraordinary NAV premium, even if you allow for another 10-15$
uplifts in their 2021 NAV, the premium would still be in double figures.


Meanwhile OCI is available on a 15% plus discount to historic NAV and I would
expect NAV progression of at least 10% this year, that again is perhaps too conservative.

[cwa1] 01/6/2021 14:08

happy enough with what I see here. Further share price progression should surely be possible

[essentialinvestor] 01/6/2021 13:00

My target of £3.40 a share by the H1 results is now looking far too conservative.


Given recent NAV uplifts in the sector £3.60 plus imv.


Dexters will be absolutely booming, lovely timing on that.

UK pre school sector is fast consolidating so today's investment news is very welcome.

[davebowler] 01/6/2021 08:53

Liberum-
Oakley Capital Investments

Investment in ICP Education

Mkt Cap £596m | Share price 330p | Prem/(disc) -19.2% | Div yield 1.4%

Event

Oakley Capital Fund IV has agreed to invest in ICP Education, an independent group of UK children's nurseries. Fund IV will invest alongside the management team of ICP Education. Oakley Capital Investments' indirect contribution via Fund IV will be c.£27m. Following the transaction, OCI will have liquid resources of £180m.

ICP Education is one of the largest nursery operators in the UK. It serves 6,000 children at 44 nurseries across England, predominantly in London and the South East. A third of its nurseries are rated Ofsted Outstanding and 98% rated Outstanding or Good. Enrolments were negatively impacted due to lockdowns, but the business has recovered to pre-Covid levels in recent months. According to Companies House, revenue grew by 67% to £28.4m in the year to March 2020.

Liberum view

Oakley has extensive experience within the education sector. One of its most successful investments was Inspired Education, a leading global schools group. Oakley invested in Inspired in 2013 (Fund I) and 2014 (Fund II) to partner with the founder, Nadim Nsouli, to support the rapid growth of the business via a buy-and-build strategy. At the time of Oakley’s exit, Inspired educated over 45,000 students across 64 premium schools and early learning centres. Current education investments in the portfolio include IU Group (largest university group in Germany), ACE Education (vocational higher education group in France) and Schülerhilfe (after-school tutoring provider in Germany and Austria).

The UK nursery market is estimated at £6.7bn and the sector is highly fragmented, offering the potential to scale the business, which should enable ICP Education to build on its strong market position. The business has many of the traits Oakley looks for when acquiring a business, with its industry-leading operational capabilities and attractive growth profile.

OCI currently trades on a c.19% discount to NAV. This is close to the widest discount of the private equity funds (excluding those that are in realisation). In our view, the strong outlook for the portfolio and NAV returns remains underappreciated. Digital business models account for 76% of the portfolio. OCI’s discount is also based off the December NAV and many of the peer group have reported strong uplifts for Q1 2021 as well, indicating further latent upside in OCI’s NAV.

[essentialinvestor] 01/6/2021 08:29

Nice new investment.

[essentialinvestor] 28/5/2021 14:42

Looking for over £3.40 on the next update.

[brexitplus] 27/5/2021 16:34

I have been looking at some videos onYoutube about the future of business and technology by futurist Bernard Marr - definitely worth watching - and the trends are definitely in line with OCI investments.

[essentialinvestor] 27/5/2021 15:12

3i seeks currently on a 30% Premium to NAV.

[essentialinvestor] 26/5/2021 12:49

Dexters must be absolutely booming, 2022 listing may be.

[texaschaser] 25/5/2021 11:26

no bags left

[essentialinvestor] 24/5/2021 14:39

Could anyone give a guessestimate of the next NAV update level?.
GBP strength will be headwind.

[brexitplus] 20/5/2021 17:24

Presentation on the Oakley website.

[davebowler] 19/5/2021 10:00

Liberum;
CMD: Plenty of upside to come

Mkt Cap £573m | Share price 317.5p | Prem/(disc) -21.1% | Div yield 1.4%

Event

Yesterday’s CMD highlighted the quality of the portfolio and the potential for future NAV growth. The manager continues to source attractive investments away from traditional auction processes across its three core sectors. Digital business models account for 76% of the portfolio, helping to drive 20% EBITDA growth in 2020. OCI has delivered the highest NAV return in the listed private equity sector over the last three years and yet remains on one of the widest discounts. We see considerable upside for the shares through consistent NAV growth and a narrowing of the discount.

[brexitplus] 17/5/2021 16:13

I topped up recently. Am happy.

[cwa1] 17/5/2021 14:14

OCI plodding along fairly happily

[makinbuks] 02/5/2021 08:59

Interesting, so AVI must have acquired the initial stake directly but from who? And then toppped up a further 0.5% in the market. Positive development

[cwa1] 30/4/2021 16:50

Couple of holdings announcements this afternoon

[makinbuks] 14/4/2021 16:07

I wouldn't invest in any of the stocks you mention without seeing some trading patterns first. The assumption/hope that everything will revert to the pre pandemic position is yet to be proved. I am certain there will be less business travel. Tourism returning depends in my view on variants emerging and further vaccine roll outs (boosters reacting to variants).

Anyway somewhat off topic as OCI is a well diversified PE vehicle. Majority of businesses growing key metrics through the pandemic