Oakley Capital Investments Ltd Registered · LSE:OCI
Oakley Capital Investments Ltd Registered — Oakley Capital Investments — H1 2023 Earnings Presentation
113 slides from Oakley Capital Investments Ltd Registered's earnings presentation, Sep 14, 2023
Slide 1: Oakley Capital Investments Half Year Report 2023
Oakley Capital Investments Half Year Report 2023
Slide 2: In this report
Strategic report Financials Glossary In this report Investing for long-term growth. We are a Specialist Fund Segment (‘SFS’) listed company, seeking p03 p10 p15 to provide investors with long-term Why invest? Profit Highlights and activity Chair’s statement capital appreciation, through our growth i
Slide 3: At a glance
Strategic report Financials Glossary At a glance Our purpose Our year to date in numbers We exist to provide wider investor access to private equity Performance and the strong investment returns it generates. £1,169m 0.5% 5% Net Asset Value (‘NAV’) Total NAV Return Total Shareholder per Share Return
Slide 4: Why invest in OCI? Available to all
Strategic report Financials Glossary Why invest in OCI? Available to all Available Real growth to all Superior private equity returns are Valuable partner typically walled-off from most investors – it’s right there in the name. However, listed private equity gives everyone the opportunity to partici
Slide 5: Why invest in OCI? Real growth
Strategic report Financials Glossary Why invest in OCI? Available to all Real Real growth growth Returns are driven by profit growth in Valuable partner a high-quality portfolio of companies operating in four sectors – Technology, Consumer, Education and Business Services, and operating primarily in
Slide 6: Why invest in OCI? Valuable partner
Strategic report Financials Glossary Why invest in OCI? Available to all Valuable Real growth partner Oakley Capital’s success is built Valuable partner on proprietary origination – more than 75% of deals are secured uncontested. Central to the ability to repeatedly source and execute attractive dea
Slide 7: Key performance indicators
Strategic report Financials Glossary Key performance indicators OCI The total NAV return NAV per share Total NAV return Total Shareholder KPIs per share, including per share Return dividends, was 0.5% 663pence 0.5% 5% (+3 pence) since 662p 663p 35% 48% Oakley 31 December 2022. 538p KPIs The total re
Slide 8: Key performance indicators
Strategic report Financials Glossary Key performance indicators OCI Oakley continued to Invested by OCI Proceeds to OCI Realised gross KPIs originate proprietary during the period during the period Money Multiple opportunities for £96m £240m 13.7x its Funds across its £271m £244m £240m 13.7x Oakley
Slide 9: Key performance indicators
Strategic report Financials Glossary Key performance indicators OCI OCI’s underlying LTM EBITDA growth EV/EBITDA multiple Net debt/EBITDA KPIs portfolio of asset- multiple light, tech-enabled 21% 16.9x 4.0x businesses continued 30% 15.9x 16.9x 4.2x 4.3x Oakley 15.3x 4.0x to deliver earnings KPIs 22%
Slide 10: Other metrics
Strategic report Financials Glossary Other metrics Average entry multiple Jun 23 13.4x Five-year CAGR Jun 23 22% Dec 22 13.6x Dec 22 23% 13.4x Dec 21 12.5x 22% Dec 21 19% Discount to NAV Jun 23 34% % Retail shareholding Jun 23 15% Dec 22 37% Dec 22 13% 34% Dec 21 22% 15% Dec 21 10% Please see Glossa
Slide 11: Portfolio activity review
Strategic report Financials Glossary Portfolio activity Key new Key new investments investments New investments on a look-through basis. Key realisations Total invested £96m review & refinancings Our year to date 2023 10 Oakley Capital Investments Half Year Report 2023
Slide 12: Key new investments £96m
Strategic report Financials Glossary Portfolio activity Key new Key new investments investments New investments on a look-through basis. Key vLex realisations Total invested FEB £96m Origin Fund portfolio company & refinancings vLex completed the bolt-on acquisition of Fastcase, a leading US legal i
Slide 13: Key new investments £96m
Strategic report Financials Glossary Portfolio activity Key new Key new investments investments New investments on a look-through basis. Key IU Group realisations Total invested MAR Fund V invested in IU Group, £96m the largest and fastest-growing & refinancings university in Germany and a global le
Slide 14: Key realisations & refinancings review
Strategic report Financials Glossary Portfolio activity Key realisations Key new investments & refinancings Realisations and refinancings on a look-through basis. Key realisations Total realised £240m review & refinancings Our year to date 2023 13 Oakley Capital Investments Half Year Report 2023
Slide 15: Key realisations & refinancings £240m
Strategic report Financials Glossary Portfolio activity Key realisations Key new investments & refinancings Realisations and refinancings on a look-through basis. Key realisations Total realised JUN £240m & refinancings IU Group Fund III exited its stake in IU Group, the largest and fastest-growing
Slide 16: Chair's statement
Strategic report Financials Glossary Chair’s statement It is once again my pleasure to report that our underlying portfolio of private, pan-European, tech- enabled businesses have continued to perform well. Caroline Foulger Chair superior outcomes Continuing to generate 15 Oakley Capital Investments
Slide 17: Chair's statement
Strategic report Financials Glossary Chair’s statement Dear Shareholder, Many of the factors that were responsible for the macro-economic turbulence we were On the first two of these priorities, it is once again my pleasure to report that our underlying portfolio of private, pan-European, 5% tech-en
Slide 18: Chair's statement: Pricing & performance
Strategic report Financials Glossary Chair’s statement Pricing & performance In a period of volatile public and private equity performance, the integrity of >15 As well as a consistently cautious approach to trading outlook and valuation multiples for the operating investee companies, The most signi
Slide 19: Chair's statement
Strategic report Financials Glossary Chair’s statement OCI has outstanding commitments to the Discount & buy-backs Oakley funds of £893 million and anticipates The Board continues to believe that sustaining that the deployment of these, when called OCI’s strong asset growth and governance over the n
Slide 20: Chair's statement: Dividend and outlook
Strategic report Financials Glossary Chair’s statement £96m Dividend In the current macroeconomic environment, the Board continues to pursue a careful Outlook In spite of some recent promising data, it is likely that the outlook for the global economy Invested during the period balance between share
Slide 21: Business model: Who we are
Strategic report Financials Glossary Business model OCI’s Investment Oakley Capital Investments (‘OCI’) Who we are Adviser is Oakley Provides liquid access to a portfolio Capital, a pan- of high-quality private companies and market-leading returns by European private investing in the Funds managed O
Slide 22: Oakley Capital Investments
Strategic report Financials Glossary Business model Oakley Capital Investments Who we are OCI offers shareholders long-term, superior returns by providing exposure to private equity investments, where value is typically created through market growth, mergers & acquisitions (‘M&A’) and performance im
Slide 23: The Oakley Capital difference
Strategic report Financials Glossary Business model The Oakley Capital difference Who we are Deal origination Value creation Oakley’s success is built on its Oakley’s Investment Team Oakley network of entrepreneurs, many works closely with founders and Capital of whom it has backed on multiple manag
Slide 24: Strong focus on four sectors with underlying growth drivers
Strategic report Financials Glossary Business model Strong focus on four sectors with Who we are underlying growth drivers Technology Consumer Education Business Services Oakley Business migration Consumer shift Growing global Providing mission- Capital to the cloud to online demand for high-quality
Slide 25: Oakley's differentiated deal-sourcing network
Strategic report Financials Glossary Business model Oakley’s differentiated deal-sourcing Who we are network Oakley Business founder network Navigating complexity Capital Investments Oakley’s business founder network Successful track record of navigating provides privileged access to off-market comp
Slide 26: Proven value creation strategies
Strategic report Financials Glossary Business model Proven value creation strategies Who we are Oakley Buy-and-build Business Performance Talent transformation improvement acquisition Capital Investments Oakley Capital Buy-and-build Oakley provides the expertise and resources to help portfolio compa
Slide 27: Proven value creation strategies: Business transformation
Strategic report Financials Glossary Business model Proven value creation strategies Who we are Oakley Buy-and-build Business Performance Talent transformation improvement acquisition Capital Investments Oakley Capital Business transformation Oakley works with management teams to leverage digital to
Slide 28: Proven value creation strategies: Performance improvement
Strategic report Financials Glossary Business model Proven value creation strategies Who we are Oakley Buy-and-build Business Performance Talent transformation improvement acquisition Capital Investments Oakley Capital Performance improvement Oakley helps businesses reach their potential by deployin
Slide 29: Proven value creation strategies: Talent acquisition
Strategic report Financials Glossary Business model Proven value creation strategies Who we are Oakley Buy-and-build Business Performance Talent transformation improvement acquisition Capital Investments Oakley Capital Talent acquisition A key asset in any business is human capital, and Oakley helps
Slide 30: A strong, tech-enabled portfolio
Strategic report Financials Glossary Portfolio overview A strong, tech- Technology Consumer enabled portfolio £233.2m £478.1m The Oakley Funds invest North Sails1 idealista £66.7m £191.1m Cegid £109.8m primarily in unquoted, WebPros £69.6m Time Out2 £61.5m Facile £48.3m pan-European Contabo £32.9m D
Slide 31: A strong, tech-enabled portfolio
Strategic report Financials Glossary Portfolio overview A strong, tech- Technology Consumer enabled portfolio £233.2m £478.1m The Oakley Funds invest North Sails1 idealista £66.7m £191.1m Cegid £109.8m primarily in unquoted, WebPros £69.6m Time Out2 £61.5m Facile £48.3m pan-European Contabo £32.9m D
Slide 32: A strong, tech-enabled portfolio
Strategic report Financials Glossary Portfolio overview A strong, tech- Technology Consumer enabled portfolio £233.2m £478.1m The Oakley Funds invest North Sails1 idealista £66.7m £191.1m Cegid £109.8m primarily in unquoted, WebPros £69.6m Time Out2 £61.5m Facile £48.3m pan-European Contabo £32.9m D
Slide 33: A strong, tech-enabled portfolio
Strategic report Financials Glossary Portfolio overview A strong, tech- Technology Consumer enabled portfolio £233.2m £478.1m The Oakley Funds invest North Sails1 idealista £66.7m £191.1m Cegid £109.8m primarily in unquoted, WebPros £69.6m Time Out2 £61.5m Facile £48.3m pan-European Contabo £32.9m D
Slide 34: IU Group
Strategic report Financials Glossary Education Sector Case study Oakley Fund III has realised its stake in IU Group, the largest and fastest-growing university in Germany and a global leader in education technology. IU is a digital disruptor in the very large and structurally growing higher educatio
Slide 35: Oakley is well positioned to continue delivering strong results
Strategic report Financials Glossary Investment Adviser’s report This resilient performance should come as no surprise, given our portfolio of high- growth, tech-enabled businesses, often with predictable recurring revenues. Steven Tredget Partner at Oakley Capital Watch video Oakley is well positio
Slide 36: Investment Adviser's report
Strategic report Financials Glossary Investment Adviser’s report In our 2022 Annual Report, we highlighted That’s already showing up in the data: the problem with high inflation, a problem information provider PitchBook estimates that unfortunately has not gone away despite Initial Public Offerings
Slide 37: Investment strategy and the AI opportunity
Strategic report Financials Glossary Investment Adviser’s report Investment strategy: evolution not The AI opportunity: a new platform shift revolution The tech sell-off that generated significant Our strong performance is also down to our media interest last year has largely reversed, consistent st
Slide 38: Investment Adviser's report: New investments
Strategic report Financials Glossary Investment Adviser’s report New investments Our reinvestment in IU met the needs of all stakeholders, including existing investors but also IU’s senior management, who were keen Touring wil for Oakley to remain invested in order to help back exciting drive the ne
Slide 39: Investment Adviser's report: Outlook
Strategic report Financials Glossary Investment Adviser’s report The importance of culture Outlook The launch in June of Oakley’s second annual The underlying global economy that our ESG report underlines our commitment to portfolio companies depend on continues sustainable investing. It signals wha
Slide 40: Oakley Fund Strategies
Strategic report Financials Glossary Oakley Fund Strategies OCI is a cornerstone investor in the Funds managed by Oakley Capital, which partners with high-growth European businesses across four complementary sectors. OCI offers you the opportunity to invest Oakley Fund strategies Investing across th
Slide 41: Oakley Touring Venture Fund
Strategic report Financials Glossary Oakley Touring Venture Fund (‘Oakley Touring’ or ‘Touring’) A dedicated fund to invest in and grow a new generation of enterprise software companies globally. Touring was founded in 2023, bringing together a diverse and highly technical team who have previously w
Slide 42: Oakley Funds overview
Strategic report Financials Glossary Oakley Funds overview Total realised gross returns of 5.3x and 73% average realised gross IRR across Oakley Funds all Funds since Oakley’s inception. Oakley Fund V Oakley Fund IV Fund size: €2,851m Fund size: €1,460m Funds overview Proceeds in 20231 OCI commitmen
Slide 43: Oakley Fund V
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Fund V OCI commitment Oakley Fund IV Vintage: 2022 €800m Fund size: €1,460m Fund V launched in 2022 and held its final close in 2023. The Fund targets investments in mid-market companies with enterpris
Slide 44: Oakley Fund IV
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Fund IV OCI commitment Oakley Fund IV Vintage: 2019 €400m Fund size: €1,460m Fund IV targets investments in mid-market companies with enterprise values in the range of €100 million to €400 million, whe
Slide 45: Oakley Fund III
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Fund III OCI commitment Oakley Fund IV Vintage: 2016 €326m Fund size: €1,460m The Fund’s investment period closed in 2019; however, it continued to explore opportunities to maximise the value of its cu
Slide 46: Oakley Fund II
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Fund II OCI commitment Oakley Fund IV Vintage: 2013 €190m Fund size: €1,460m Fund II was Oakley’s second fund and is now in the latter stages of its realisation phase, with two investments remaining, N
Slide 47: Oakley Fund I
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Fund I OCI commitment Oakley Fund IV Vintage: 2013 €202m Fund size: €1,460m Oakley’s first Fund closed in 2009 and now has one remaining investment, Time Out. Oakley Fund III Fund size: €800m Fund size
Slide 48: Oakley Origin Fund
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Origin Fund OCI commitment Oakley Fund IV Vintage: 2021 €129m Fund size: €1,460m The Origin Fund is Oakley’s first vehicle focused on investing in lower mid-market companies, building on the firm’s suc
Slide 49: Oakley Touring I
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley Touring I OCI commitment Oakley Fund IV Vintage: 2023 $100m Fund size: €1,460m Oakley Touring I launched in 2023, the Fund will invest in proven next-generation enterprise software companies powered by
Slide 50: Oakley PROfounders III
Strategic report Financials Glossary Oakley Funds overview Oakley Fund V Fund size: €2,851m Oakley PROfounders III OCI commitment Oakley Fund IV Vintage: 2022 €30m Fund size: €1,460m PROfounders III launched in 2022 and is currently being raised. PROfounders III made two investments during the perio
Slide 51: OCI NAV overview
Strategic report Financials Glossary OCI NAV overview OCI’s NAV has been maintained at £1,169 million during the period with a NAV per share of 663 pence Cash and Other Direct Investments Oakley Fund Investments Cash and Other made up 20% of NAV Direct Investments made up 17% of NAV Oakley Fund Inve
Slide 52: Proceeds and investments
Strategic report Financials Glossary OCI NAV overview Proceeds Investments OCI’s look-through share OCI made a total look-through investment of £96 million of proceeds from exits and attributable to: refinancings during the year amounted to £240 million, consisting of: Realisations New investments F
Slide 53: Movement in NAV
Strategic report Financials Glossary OCI NAV overview Movement in NAV NAV remained stable during the period driven by £29.7 million net realised and unrealised gains offset by £27.3 million unrealised foreign exchange loss Movement in investments Movement in NAV (£m) FX Exposure £ 22% $ 24% £5.4m €
Slide 54: Movement in investments
Strategic report Financials Glossary OCI NAV overview Movement in NAV Decrease in investments was driven by a £221.0 million distribution following the IU Group disposal by Fund III during the period Movement in investments Movement in investments (£m) Portfolio companies £2.4m Realised and unrealis
Slide 55: A resilient performance from a well rounded portfolio
Strategic report Financials Glossary OCI NAV overview Movement in NAV A resilient performance from a well rounded portfolio of companies Movement in investments The below chart summarises the ten largest movements in realised and unrealised gains/(losses) of the portfolio companies during the period
Slide 56: Liquidity sources and capital commitments
Strategic report Financials Glossary OCI NAV overview Liquidity sources and capital commitments In the period, OCI announced a commitment The additional considerations below are of $100 million (£79 million) to Oakley Touring factored in when assessing OCI’s unfunded Typical cash flow profile for in
Slide 57: Liquidity sources and capital commitments
Strategic report Financials Glossary OCI NAV overview Liquidity sources and capital commitments The chart below represents OCI’s available sources to fund its Capital calls will be funded mainly through cash and available debt, unfunded commitments. OCI’s total unfunded commitments proceeds from fut
Slide 58: Overview of OCI's underlying investments
Strategic report Financials Glossary OCI NAV overview Overview of OCI’s underlying investments Sector Region Year of investment Residual cost £m Fair value £m Fund V Contabo Technology Germany 2022 £32.2 £32.9 Facile Consumer Italy 2022 £42.4 £48.3 Phenna Business Services United Kingdom 2022 £70.2
Slide 59: Overview of OCI's underlying investments continued
Strategic report Financials Glossary OCI NAV overview Overview of OCI’s underlying investments continued Sector Region Year of investment Residual cost £m Fair value £m Fund III atHome Consumer 2020 £0.0 £7.5 Schüelerhilfe Education Germany 2017 £30.1 £58.3 Cegid Technology Spain 2019 £65.9 £109.8 I
Slide 60: Overview of OCI's underlying investments continued
Strategic report Financials Glossary OCI NAV overview Overview of OCI’s underlying investments continued Sector Region Year of investment Residual cost £m Fair value £m Origin Fund Gymondo (7NXT) Consumer Germany 2020 £5.2 £10.6 ECOMMERCE ONE Technology Germany 2021 £5.8 £7.5 ACE Education Education
Slide 61: Overview of OCI's underlying investments continued
Strategic report Financials Glossary OCI NAV overview Overview of OCI’s underlying investments continued Sector Region Year of investment Residual cost £m Fair value £m Direct Investments North Sails Consumer USA £154.0 Time Out Consumer United Kingdom £36.0 Fund I Loan n/a Bermuda £7.9 Total Direct
Slide 62: Technology sector: investing across digital markets
Strategic report Financials Glossary Technology sector Technology sector Consumer sector Education sector Business Services Investing across digital Oakley has built a successful track % of OCI Nav record in backing technology-led businesses. Oakley’s first investments were in TMT, markets 20% demon
Slide 63: ECOMMERCE ONE case study
Strategic report Financials Glossary Technology sector Case study ECOMMERCE ONE was founded in 2021 with the ambition of becoming the leading comprehensive ecosystem of ecommerce solutions in the DACH region. The latest two businesses to join the Group are Makaira, an ecommerce marketing suite softw
Slide 64: Our technology investment portfolio
Strategic report Financials Glossary Technology sector Our technology investment portfolio Cegid WebPros Contabo Cegid is a European leader in The WebPros Group comprises A leading server infrastructure enterprise management software two of the most widely used provider offering cloud services and c
Slide 65: Our technology investment portfolio
Strategic report Financials Glossary Technology sector Our technology investment portfolio Seedtag ECOMMERCE ONE Daisy A leader in contextual advertising A leading provider of ecommerce The UK’s number one independent in EMEA and Latin America. software in the DACH region. provider of converged B2B
Slide 66: ESG in action: governance in Iberia
Strategic report Financials Glossary Technology sector Technology ESG in action Case study Strong and harmonised cybersecurity policy, diversity policy, and anti-corruption, anti-money laundering and corporate governance in areas whistle-blowing procedures. A Compliance such as ESG helped bring Comm
Slide 67: Consumer sector
Strategic report Financials Glossary Consumer sector Technology sector Consumer sector Education sector Business Services Distinctive brands loved by Oakley has a long track record of % of OCI Nav consumers investing in online and offline brands in the Consumer sector. Since inception, Oakley has bu
Slide 68: Dexters case study
Strategic report Financials Glossary Consumer sector Case study Founded as a single brand in Twickenham in 1993, Dexters has since grown to a network leading of 150+ branches across London’s Greater London. Having completed 16 acquisitions since Oakley’s investment in 2021, Dexters continues to achi
Slide 69: Our consumer investment portfolio
Strategic report Financials Glossary Consumer sector Our consumer investment portfolio North Sails idealista Time Out Facile North Sails comprises a portfolio The leading online real estate A trusted global brand that inspires Italy’s leading online destination for of market-leading marine brands cl
Slide 70: Our consumer investment portfolio
Strategic report Financials Glossary Consumer sector Our consumer investment portfolio Dexters Iconic BrandCo WindStar Medical Vice Golf London’s leading independent Leading consumer brands Alessi Germany’s leading over-the-counter The leading digitally-native golf chartered surveyors and estate and
Slide 71: Our consumer investment portfolio
Strategic report Financials Glossary Consumer sector Our consumer investment portfolio Gymondo Wishcard Technologies Group atHome Germany’s market leader in online Based in Germany, Wishcard A digital group comprising a fitness subscription programmes Technologies Group is a leading portfolio of lea
Slide 72: ESG in action: Alessi solar savings
Strategic report Financials Glossary Consumer sector Consumer ESG in action Case study Alessi, an Italian high-end design business focused on homeware products, is a household name Solar run by the Alessi family. The company is installing solar panels on the roofs of their headquarters and manufactu
Slide 73: Education sector
Strategic report Financials Glossary Education sector Technology sector Consumer sector Education sector Business Services First-class opportunities Education is a core sector, with % of OCI Nav taking us six investments ranging from online tertiary education and after-school tutoring to marine forw
Slide 74: Schülerhilfe case study
Strategic report Financials Glossary Education sector Case study Oakley invested in Schülerhilfe in 2017, the number one provider of after-school tutoring in Germany and Helping thousands of DACH Austria. Every year, over 125,000 school children across Germany and Austria use Schülerhilfe’s after-sc
Slide 75: Our education investment portfolio
Strategic report Financials Glossary Education sector Our education investment portfolio IU Group Schülerhilfe Bright Stars The largest and fastest-growing The leading provider of after- A leading independent group university group in Germany. school tutoring across Germany of premium nurseries, pro
Slide 76: Our education investment portfolio
Strategic report Financials Glossary Education sector Our education investment portfolio Affinitas Education ACE Education Thomas’s Building a global K12 schools group. A leading higher education platform A top-rated group of co-educational focused on sports management, independent schools in London
Slide 77: ESG in action: Talking diversity with Bright Stars
Strategic report Financials Glossary Education sector Education ESG in action Engagement in action Talking diversity with Bright Stars Bright Stars is one of the Aga: The past 18 months have Clare: We share that philosophy at Clare: It will be. We just finished our flown by, and in that time Bright
Slide 78: Business Services
Strategic report Financials Glossary Business Services Technology sector Consumer sector Education sector Business Services Providing mission-critical, Growing regulation and demand for % of OCI Nav tech-enabled productivity are driving demand for services and information that help businesses succee
Slide 79: vLex and Fastcase case study
Strategic report Financials Glossary Business Services Case study In 2023, Oakley announced the combination of portfolio company vLex with Fastcase, largest a leading US intelligence Creating the business, to form the world’s largest law firm subscriber base and a library with more than one billion
Slide 80: Our Business Services investment portfolio
Strategic report Financials Glossary Business Services Our Business Services investment portfolio Phenna Group Ocean Technologies Group TechInsights vLex One of the fastest-growing TICC The leading provider of maritime TechInsights is the authoritative A cloud-based legal information groups globally
Slide 81: ESG in action: Phenna
Strategic report Financials Glossary Business Services Business Services ESG in action Case study Phenna Group, Oakley’s largest- ever platform investment, is composed of a diverse range of 44 businesses in the TICC space, potential ranging from food to aeroplane Exploring a wide range of engines to
Slide 82: ESG at OCI
Strategic report Financials Glossary ESG at OCI With the full support of the OCI Board, ESG at Oakley is set out as a Diversity, Energy & proprietary framework to integrate climate change equality & inclusion good business practices, future- proof investments and provide Product design transparency
Slide 83: ESG at OCI
Strategic report Financials Glossary ESG at OCI The Sustainability Team collaborates Onboarding programme with the Investment Team and provides • ESG onboarding with Oakley team support to company management • Addressing urgent issues identified as part of due diligence throughout this process. Init
Slide 84: Statement of Directors' responsibilities
Strategic report Financials Glossary Statement of Directors’ responsibilities Responsibility statement b) 4.2.8R of the Disclosure Guidance and Transparency Rules, being all related party of the Directors in respect transactions that have taken place in the of the Interim Report first six months of
Slide 85: Shareholder information
Strategic report Financials Glossary Shareholder information OCI shares can be purchased Share dealing Rights attaching to shares through a stockbroker, Investors wishing to purchase or sell shares in the Company may do so through a stockbroker, The rights attaching to the shares are set out in the
Slide 86: Consolidated Financial Statements
Strategic report Financials Glossary 86 Consolidated statement of comprehensive income 87 Consolidated balance sheet 88 Consolidated statement of changes in equity 89 Consolidated statement of cash flows 90 Notes to the Consolidated Financial Statements 108 Directors and advisers 109 Glossary and Al
Slide 87: Consolidated statement of comprehensive income (unaudited)
Strategic report Financials Glossary Consolidated Financial Statements Consolidated statement of comprehensive income (unaudited) For the six months ended 30 June 2023 6 months ended 6 months ended 30 June 2023 30 June 2022 Notes £’000 £’000 Income Interest income 7,672 7,711 Net realised gains (los
Slide 88: Consolidated balance sheet (unaudited)
Strategic report Financials Glossary Consolidated Financial Statements Consolidated balance sheet (unaudited) As at 30 June 2023 (Audited) As at As at As at 30 June 2023 31 December 2022 30 June 2022 Notes £’000 £’000 £’000 Assets Non-current assets Investments 6, 7 935,932 1,060,989 1,022,020 935,9
Slide 89: Consolidated statement of changes in equity (unaudited)
Strategic report Financials Glossary Consolidated Financial Statements Consolidated statement of changes in equity (unaudited) For the six months ended 30 June 2023 Total Share Share Retained shareholders’ capital premium earnings equity £’000 £’000 £’000 £’000 Balance at 1 January 2022 (audited) 1,
Slide 90: Consolidated statement of cash flows (unaudited)
Strategic report Financials Glossary Consolidated Financial Statements Consolidated statement of cash flows (unaudited) For the six months ended 30 June 2023 6 months ended 6 months ended 30 June 2023 30 June 2022 Notes £’000 £’000 Cash flows from operating activities Purchases of investments 6 (83,
Slide 91: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 1. Reporting entity Oakley Capital Investments Limited (the ‘Company’) is a closed-end investment company incorporated under the laws of Bermuda on 28 June 2007. The Company invests in the following private equity fu
Slide 92: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 2. Basis of preparation Based on current cash flow projections and The Board of Directors considers it The consolidated interim financial statements barring unforeseen events, the Company appropriate to prepare the c
Slide 93: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 3. Significant accounting policies (a) Fair valuation of investments The Board of Directors has concluded unpredictability of financial markets and The accounting policies used are The fair values assigned to investm
Slide 94: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 6. Investments Investments as at 30 June 2023: Change in 31 December Realised unrealised 30 June 2022 Purchases/ Sales*/ gains Interest gains 2023 Fair value capital calls distributions (losses)** and other (losses)*
Slide 95: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 6. Investments continued Investments as at 31 December 2022: Change in 31 December Realised unrealised 30 June 2021 Purchases/ Sales*/ gains Interest gains 2022 Fair value capital calls distributions (losses)** and o
Slide 96: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 6. Investments continued Investments as at 30 June 2022: Change in 31 December Realised unrealised 30 June 2021 Purchases/ Sales*/ gains Interest gains 2022 Fair value capital calls distributions (losses)** and other
Slide 97: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 7. Disclosure about fair value of financial instruments Level III The Company has adopted IFRS 13 in respect of disclosures about the The Company has determined that Funds and unquoted debt securities fall degree of
Slide 98: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 7. Disclosure about fair value of financial instruments continued The following table analyses the Company’s investments measured at fair The following table analyses the Company’s investments measured at fair value
Slide 99: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 7. Disclosure about fair value of financial instruments continued As at 30 June 2023, the value of the Funds’ investments, other assets and liabilities attributable to the Company based on its respective percentage i
Slide 100: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 7. Disclosure about fair value of financial instruments continued fair value of the unquoted portfolio companies held by the Funds would have The Company records its investments in the Funds at the NAV reported by an
Slide 101: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 7. Disclosure about fair value of financial instruments continued Unquoted Unquoted debt debt Funds securities Total Funds securities Total Level III investments: £’000 £’000 £’000 Level III investments: £’000 £’000
Slide 102: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 8. Segment information The Company has two reportable segments, as described below. For each of them, the Board of Directors receives detailed reports on at least a quarterly basis. The following summary describes th
Slide 103: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 8. Segment information continued The segment information for the year ended 31 December 2022 is as follows: Direct Total Funds Investments operating investments and loans segments Corporate Total £’000 £’000 £’000 £’
Slide 104: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 8. Segment information continued The segment information for the six-month period ended 30 June 2022 is as follows: Direct Total Funds Investments operating investments and loans segments Corporate Total £’000 £’000
Slide 105: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 9. Expenses (c) Auditor’s remuneration 6 months 6 months The Company’s auditor is KPMG. During the period ending 30 June 2023, ended ended the Company incurred KPMG audit fees of £82,625 (30 June 2022: £79,564). 30 J
Slide 106: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 12. Share capital 13. Dividends The authorised share capital of the Company is 280,000,000 ordinary On 17 March 2023, the Board of Directors declared a final dividend for 2022 shares of a par value of £0.01 each. Ord
Slide 107: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 14. Commitments The Company had the following capital commitments in Euros as at period end: Original Outstanding as at Outstanding as at Outstanding as at commitment 30 June 2023 31 Dec 2022 30 June 2022 ’000 ’000 ’
Slide 108: Notes to the Consolidated Financial Statements
Strategic report Financials Glossary Notes to the Consolidated Financial Statements 15. Borrowings On 24 June 2022, OCI entered into a £100 million multicurrency revolving credit facility agreement with a consortium of lenders. The facility had a term of twelve months. Post period end, OCI renewed a
Slide 109: Directors and advisers
Strategic report Financials Glossary Directors and advisers Directors Advisers Caroline Foulger Administrative Agent Adviser as to Bermuda Law Chair Oakley Capital Limited Carey Olsen Bermuda Limited 3 Cadogan Gate Rosebank Centre Richard Lightowler London SW1X 0AS 11 Bermudiana Road Senior Independ
Slide 110: Glossary and Alternative Performance Measures
Strategic report Financials Glossary Glossary and Alternative Performance Measures Administrative Agent Oakley Capital Limited (‘OCL’), in respect of the Company. AIF Alternative Investment Fund; as at 30 June 2023, Oakley Capital Investments Limited is a non-EU AIF. Attribution analysis: movement i
Slide 111: Glossary and Alternative Performance Measures
Strategic report Financials Glossary Glossary and Alternative Performance Measures Fund I/Oakley Fund I Oakley Capital Private Equity L.P. Fund II/Oakley Fund II Those limited partnerships constituting the Fund known as Oakley Capital Private Equity II, comprising Oakley Capital Private Equity II-A
Slide 112: Glossary and Alternative Performance Measures
Strategic report Financials Glossary Glossary and Alternative Performance Measures Oakley Group Oakley Capital Limited as Investment Adviser and Administrative Agent, Oakley Capital Holdings S.à r.l., the General Partners, the Fund IV and Origin Fund AIFM and any other AIFM and General Partner of su
Slide 113: Designed and produced by Friend www.friendstudio.com
Designed and produced by Friend www.friendstudio.com
Oakley Capital Investments — H1 2023 Earnings Presentation on 6ix