Oakley Capital Investments Share Discussion Threads

[makinbuks] 20/7/2023 11:22

Thanks DP interesting

[donald pond] 20/7/2023 09:14

I dropped Steven Tredget an email about this and it is breaking no confidence to say that he said there is no change of approach. The focus is and remains on Europe, which has much less PE than the US, but the company is opportunistic as well. So no change to the existing (very successful) strategy

[donald pond] 16/7/2023 10:31

I didn't pay attention to the acquisition of Fastlaw in the last trading statement but it looks like a great company. Obviously we don't know the price paid etc but combined with vlex must be world leaders in providing legal information to law firms. It is potentially interesting as it is primarily a US business so perhaps indicates OCI is moving from European to potentially global platforms.

[crita 2] 16/7/2023 10:09

Interim trading statement.

[donald pond] 16/7/2023 09:36

He bought 300k at 4.68 and then 375k in the 440s and 450s, so over £3m worth at a premium to the current price. I'd say that tells us the underlying businesses are doing well

[donald pond] 15/7/2023 20:57

I actually bought a few yesterday. Dubbens bought a load at 470 as well as lower down and I felt it was bowling up

[ali47fish] 15/7/2023 18:49

crita - do you mean an update last yeat results were on 2 august 22

[crita 2] 15/7/2023 12:38

The selling seems to have stopped. Statement out 26 July.

[makinbuks] 13/7/2023 11:17

Yes thanks DB, some interesting short videos

[davebowler] 12/7/2023 12:57

OCI Newsletter -

[1968jon] 26/6/2023 14:08

ali47fish (Senior) people in PE firms largely make their money through carried interest in the fund(s) of the firm. In my understanding, very few of them increase their exposure to the firm's performance through purchases of the listed investment trusts of the firm where they exist. Very senior people/managing partners/founders of PE firms tend to have (large) personal stakes in the funds - that dwarf the carried interest returns if successful. Again these people tend not to "double up" in any investment trust. I would be very surprised if Dubens didn't have HUGE personal equity in the underlying funds. Given that, typically, you can only invest in a fund at launch, I interpret the fact that he wants to get more exposure as a positive, and he probably likes the discount.

[ali47fish] 26/6/2023 13:03

what doe ourlier here mean- not obvious

[1968jon] 26/6/2023 11:10

donald pond, I have commented several times about Dubens' share purchases. In the last 5 weeks he has written cheques totalling £3m for OCI stock. He is a massive outlier in the funds I know.

[donald pond] 26/6/2023 10:45

Clearly there are sellers in the market, likely investment managers dumping PE due to regulatory changes that mean if they buy it for clients they need to add the PE fees to their own cost ratio, iirc. So a portfolio of PE could look like the investment manager is charging much more than they are. Most funds are picking up the slack with buybacks. That Oakley is with directors buys is interesting

[biggest bill] 26/6/2023 07:22

Another 250,000 shares bought by directors. This has been a rather quiet period in news flow for oci. Presumably, there is some good news in the pipeline or they just think the shares are a bargain at this price.

[biggest bill] 19/6/2023 15:02

Peter Dubens seems really keen to up his shareholding by buying another 175,000 shares.

[crita 2] 11/6/2023 16:32

Thank you for your opinion.

[crita 2] 11/6/2023 16:32

Thank you for your opinion.

[riverman77] 11/6/2023 11:56

NAV total return is the key measure - OCI is near the top of the table over 3y and 5y but there are a few PE funds on wider discounts that aren't far behind (ICGT, HVPE, APEO, PIN). I personally switched from OCI after strong run into APEO as I like the wider discount, nice dividend and better diversification (OCI is very concentrated). Don't get me wrong, I think OCI is a great fund, but just not my number one pick right now.

[crita1] 11/6/2023 11:35

Yes but are they the same quality as Oakley, in terms of ROCE and debt?

[riverman77] 11/6/2023 10:59

Many PE funds are even cheaper sitting on 40% plus discounts, so OCI not especially cheap on relative basis. The high fees could also be a factor.

[crita 2] 11/6/2023 09:51

I really don't understand why Oakley is so cheap. It makes no sense.