Oakley Capital Investments Ltd Registered · LSE:OCI
Oakley Capital Investments Ltd Registered — Oakley Capital Investments — FY2021 Earnings Presentation
150 slides from Oakley Capital Investments Ltd Registered's earnings presentation, Mar 10, 2022
Slide 1: Oakley Capital Investments Annual Report 2021
Oakley Capital Investments ANNUAL REPORT 2021
Slide 2: At a glance: NAV per share
Oakley Capital Investments Annual Report 2021 205 02 At a glance 316 Total NAV Return 427 538p 538 NAV per share since inception per Share of (pence at 31 December) 35% and Total Shareholder 649 Net Asset Value (‘NAV’) per share of 538 pence, up from 403 pence at 31 December 2020. Return of 48% for
Slide 3: At a glance: share price performance
Oakley Capital Investments Annual Report 2021 15 03 At a glance 26 Total NAV Return 37 48 48% FTSE All-Share and OCI share price per Share of performance over ten years (rebased to 100 at 1 January 2012) 35% and Total 59 Significant outperformance in 2021 with a Total Shareholder Return for Sharehol
Slide 4: Contents
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 04 Contents Why invest? Highlights and activity Chair’s statement Returns are driven by An active year for investments OCI investors benefitted profit growth in a high-quality by the Oakley Funds from anoth
Slide 5: Why invest in listed private equity?
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 05 Why invest in listed private equity? Historically, private equity has been Private equity targets investments in privately owned businesses across all walled off from retail investors – it’s sectors, fro
Slide 6: Why invest in OCI?
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 06 Why invest in OCI? Extraordinary opportunities Returns are driven by profit growth Their business models are predominantly focused on tech-enabled services and in a high-quality portfolio of resilient, r
Slide 7: A partner of choice
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 07 Why invest in OCI? A partner of choice OCI benefits from its partnership Central to the ability to repeatedly source and execute attractive deals is Oakley’s with Oakley Capital (‘Oakley’), entrepreneuri
Slide 8: Financial highlights: Performance
Oakley Capital Investments Annual Report 2021 1 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 0 08 Financial highlights 2 1 Performance 30 2 Balance sheet and 41 Performance 0 3 52 1 04 distributions OCI continued to benefit from the Oakley Funds’ investment focus on technology-enabled businesses.
Slide 9: Financial highlights: Balance sheet and distributions
Oakley Capital Investments Annual Report 2021 2 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 09 Financial highlights 3 Performance 0 4 Balance sheet and 1 sheet and distributions Balance 0 5 2 01 060 distributions Full-year dividend of 4.5 pence and further cash deployed during the year while mai
Slide 10: Financial highlights: Portfolio companies
Oakley Capital Investments Annual Report 2021 0 1 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 10 Financial highlights 1 2 Performance 2 3 Balance sheet and Portfolio 3 companies 4 4 5 0 distributions Strong earnings growth, with the portfolio benefitting from accelerating long-term trends such a
Slide 11: Portfolio activity: New investments
1 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 11 2 Portfolio activity New 3 2021 04 investments New investments on 15 a look-through basis. idealista See Glossary for Fund IV acquired a minority stake further details. in idealista, an online real est
Slide 12: Portfolio activity: New investments (continued)
1 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 11 2 Portfolio activity New 3 2021 04 investments New investments on ACE Education The Origin Fund completed its investment in ACE Education, 15 a look-through basis. a private vocational JUL See Glossary
Slide 13: Portfolio activity: Realisations and refinancings
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 12 Portfolio activity Realisations 2021 & refinancings Realisations and refinancings 0 on a look-through basis. See Glossary for further details. IU Group JAN IU Group completed a refinancing 010 resulting
Slide 14: Portfolio activity: Realisations and refinancings (continued)
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 12 Portfolio activity Realisations 2021 & refinancings ACE Education Fund III exited its investment Realisations and refinancings in ACE Education, a private 0 on a look-through basis. vocational higher edu
Slide 15: Chair's statement
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 13 Chair’s statement The Company’s underlying investments maintained their pattern of strong growth with average EBITDA increasing by 28%, underpinned by the portfolio’s focus on digitally enabled businesse
Slide 16: Chair's statement
Oakley Capital Investments Annual Report 2021 14 00 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Chair’s statement 11 I am delighted to report that OCI has continued to deliver on its long-term strategy, generating an impressive Total years has helped build credibility in the listed private equit
Slide 17: Chair's statement: ESG and communications
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 15 Chair’s statement Environment, Society and I am pleased to report that OCI has Governance (‘ESG’) advanced its own direct Corporate Social Responsibility programme which There has been significant progre
Slide 18: Chair's statement: discount, buy-backs, dividend
12 23 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 16 Chair’s statement 34 4 5 4.5p Discount Share purchases It is pleasing to note that the discount During the period, the Board authorised in OCI’s share price to underlying NAV a buy-back of 2 millio
Slide 19: Our relationship with Oakley Capital
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 17 Business model Our relationship with Oakley Capital Oakley Capital Investments Oakley Capital (‘OCI’) (‘Oakley’) Provides liquid access to a portfolio Leading private equity firm specialising of high-qua
Slide 20: The Oakley Capital difference
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 18 Business model The Oakley Capital difference Deal origination Value creation Oakley’s success is built Oakley’s Investment on its unique network of Our entrepreneurial Team works closely Our tech-enabled
Slide 21: Key sectors underpinned by accelerating megatrends
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 19 Business model Oakley Capital’s focus on key sectors is underpinned by accelerating megatrends Key sectors Deal-sourcing network Consumer shift to online Regions and sectors that are ripe Adding value fo
Slide 22: Unique deal sourcing network
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 20 Business model Unique deal sourcing network Key sectors Business founder network Navigating complexity Deal-sourcing network Business founder network provides Successful track record of navigating privil
Slide 23: Proven value creation strategies: buy-and-build
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 21 Business model Proven value creation strategies Key sectors Deal-sourcing network Business Performance Talent Buy-and-build Transformation improvement acquisition Adding value Oakley provides the experti
Slide 24: Proven value creation strategies: business transformation
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 22 Business model Proven value creation strategies Key sectors Deal-sourcing network Business Performance Talent Buy-and-build transformation improvement acquisition Adding value Oakley works with managemen
Slide 25: Proven value creation strategies: performance improvement
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 23 Business model Proven value creation strategies Key sectors Deal-sourcing network Business Performance Talent Buy-and-build transformation improvement acquisition Adding value Oakley helps businesses rea
Slide 26: Proven value creation strategies: talent acquisition
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 24 Business model Proven value creation strategies Key sectors Deal-sourcing network Business Performance Talent Buy-and-build transformation improvement acquisition Adding value A key asset in any business
Slide 27: Portfolio overview
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 25 Portfolio overview 0 A strong, tech-enabled 1 portfolio Technology WebPros £61.6m 2 three sectors: The Oakley Funds invest primarily in unquoted, pan-European businesses across £199.0m TechInsights Grupo
Slide 28: Portfolio overview
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 26 Portfolio overview 0 A strong, tech-enabled 1 portfolio Technology WebPros £61.6m 2 three sectors: The Oakley Funds invest primarily in unquoted, pan-European businesses across £199.0m TechInsights Grupo
Slide 29: Portfolio overview
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 27 Portfolio overview 0 A strong, tech-enabled 1 portfolio Technology WebPros £61.6m 2 three sectors: The Oakley Funds invest primarily in unquoted, pan-European businesses across £199.0m TechInsights Grupo
Slide 30: Largest contributors to NAV growth
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 28 0 Portfolio overview 1 contributors to The largest 0 NAV2 growth in our portfolio 1 30 Student intake growth of 34% vs the prior year 02 Trading performance increased fair value by 277% 41 13 IU Group ha
Slide 31: Largest contributors to NAV growth
4 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 29 5 Portfolio overview 6 contributors to The largest 7 NAV growth in our portfolio 8 2021 full year revenue growth of 68% 09 Wishcard has continued to deliver strong performance in Wishcard is Europe’s 2
Slide 32: Seedtag: leader in contextual advertising
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 30 Case study Leader in contextual advertising in EMEA & Latin America New investment: Seedtag combines The increasing importance of consumer best-in-class technology and strong privacy and GDPR rules is ex
Slide 33: Investment Adviser's report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 31 Investment Adviser’s report In these times, it pays to embrace a prudent, conservative approach to valuations, as we have consistently done. Our portfolio’s 14x average valuation multiple and the strong
Slide 34: Investment Adviser's report
3 4 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 32 Investment Adviser’s report 50 61 We remain confident Another record year for A certain bet for uncertain times private equity that our tech-enabled The market sell-off that we witnessed During 2021,
Slide 35: Investment Adviser's report
22 0 33 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 33 144 Investment Adviser’s report 2 550 Great oaks from little acorns grow While digitisation remains a key SaaS provider COMPAS to Ocean Technologies Group, accelerating the in Seedtag demonstrate
Slide 36: Investment Adviser's report: Outlook
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 34 Investment Adviser’s report Outlook and M&A. Oakley excels in successfully applying these value drivers, as our The growth in private equity as an track record demonstrates. Founder industry and asset cl
Slide 37: Wishcard: Europe's favourite gifts and rewards platform
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 35 Case study Creating Europe’s favourite gifts and rewards platform Wishcard, Europe’s leading gifts and have underpinned and will continue to rewards platform, has experienced propel its strong growth. It
Slide 38: Oakley Funds overview
0 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 36 Oakley Funds overview Total realised 1 Funds overview Oakley funds 2 OCI is a listed investment company gross returns providing consistent, long-term returns in excess of the FTSE All-Share Index by in
Slide 39: Oakley Origin Fund
Oakley Capital Investments Annual Report 2021 1 25 37 236 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Oakley Funds overview Oakley Origin Fund Fund size: €458m Oakley Origin Fund 347 Fund size 458 €458m Oakley Fund IV Vintage: 2021 Fund size: €1,460m The Origin Fund launched during 2021 with €45
Slide 40: Oakley Fund IV
Oakley Capital Investments Annual Report 2021 1 37 38 2 48 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Oakley Funds overview Oakley Origin Fund Fund size: €458m Oakley Fund IV 0 359 Fund size €1,460m 1 460 Oakley Fund IV Vintage: 2019 Fund size: €1,460m Fund IV was launched during 2019 with €1,4
Slide 41: Oakley Fund III
Oakley Capital Investments Annual Report 2021 57 7 39 68 8 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Oakley Funds overview Oakley Origin Fund Fund size: €458m Oakley Fund III 799 Fund size 800 €800m Oakley Fund IV Vintage: 2016 Fund size: €1,460m Fund III launched in 2016 with €800 million of
Slide 42: Oakley Fund II
Oakley Capital Investments Annual Report 2021 2 1 40 302 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Oakley Funds overview Oakley Origin Fund Fund size: €458m Oakley Fund II 41 3 Fund size 524 €524m Oakley Fund IV Vintage: 2013 Fund size: €1,460m Fund II was Oakley’s second fund and is now in th
Slide 43: Oakley Fund I
Oakley Capital Investments Annual Report 2021 55 41 066 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY Oakley Funds overview Oakley Origin Fund Fund size: €458m Oakley Fund I 1 77 Fund size 288 €288m Oakley Fund IV Vintage: 2007 Fund size: €1,460m Oakley’s first fund closed in 2009 and now has Oakl
Slide 44: OCI NAV overview
1 2 2 03 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 42 OCI NAV overview 0 3 14 0 OCI’s NAV1grew 4from £728 million2to5 1 232%5since 31 December32020 6 £961 million, 538 pence per share, an increase of 2 3 6 47 30 407 Oakley Fund Investments 58 Direc
Slide 45: OCI NAV overview: investments and proceeds
0 Oakley Capital Investments Annual Report 2021 0 2 43 1 1 3 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY OCI NAV overview 2 2 40 3 3 51 4 Proceeds OCI’s look-through share of proceeds from exits, 4 62 Investments During the period, Oakley continued to originate proprietary 05refinancings and deb
Slide 46: Movement in NAV
4 Oakley Capital Investments Annual Report 2021 05 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 44 16 OCI NAV overview Movement in NAV by2 7 Increase in NAV during the year driven 0 unrealised gains of £266 million 1 38 Movement in investments Portfolio 249 £249m companies Movement in NAV (£m) 35
Slide 47: Movement in value of investments
3 Oakley Capital Investments Annual Report 2021 04 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 45 15 OCI NAV overview Movement in NAV by2 6 Increase in NAV during the year driven0 unrealised gains of £266 million 1 37 Movement in investments Portfolio 248 £248m companies Movement in the value of
Slide 48: Largest movements in portfolio company gains
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 46 OCI NAV overview Movement in NAV Increase in NAV during the year driven by Movement in investments unrealised gains of £266 million Portfolio companies The below chart summarises the largest movements in
Slide 49: Commitments to Oakley Funds
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 47 OCI NAV overview Commitments At the year-end, OCI had Total commitment Outstanding Outstanding £404 million of outstanding Fund EURm EURm £m* % of NAV commitments to the Oakley Funds. Fund I 202.4 2.8 2.
Slide 50: Funding profile of Oakley Funds
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 48 OCI NAV overview Funding profile of Oakley Funds The OCI commitments to the Oakley • Net cash flows: Oakley Fund Cash flow profile for investors in private equity funds Funds are expected to be deployed
Slide 51: Overview of underlying investments: Origin Fund and Fund IV
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 49 OCI NAV overview Overview of OCI’s underlying investments Sector Region Year of investment Residual cost £m Fair value £m Origin Fund 7NXT Consumer Germany 2020 £ 4.6 £ 9.7 ECOMMERCE ONE Technology Germa
Slide 52: Overview of underlying investments: Fund III
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 50 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 Luxembourg 2020 - £ 7.9 TechInsights Technolog
Slide 53: Overview of underlying investments: Fund II and Fund I
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 51 OCI NAV overview Overview of OCI’s underlying investments continued Sector Region Year of investment Residual cost £m Fair value £m Fund II North Sails Consumer USA 2014 £ 42.9 £ 35.5 Daisy Technology Un
Slide 54: Overview of underlying investments: direct investments
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 52 OCI NAV overview Overview of OCI’s underlying investments continued Sector Region Year of investment Residual cost £m Fair value £m Time Out Consumer United Kingdom £ 39.4 Fund I Loan n/a Bermuda £ 7.1 N
Slide 55: Technology sector: leading in the digital economy
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 53 Technology sector Leading in the digital economy Oakley has built a Oakley’s first investments were in TMT, Sector investments demonstrating the firm’s early track successful track record record as a tec
Slide 56: TechInsights: leading technical content
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 54 Case Study Leading Fund III first invested in TechInsights in The integration of three bolt-on 2017 as a carve-out from AXIO Group. acquisitions further strengthened its During its period of ownership, O
Slide 57: Our technology investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 55 Technology sector Our technology investment portfolio WebPros TechInsights Grupo Primavera Contabo The WebPros Group comprises two of the TechInsights is the authoritative The largest independent provide
Slide 58: Our technology investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 56 Technology sector Our technology investment portfolio Seedtag Daisy ECOMMERCE ONE A leader in contextual advertising in EMEA The UK’s number one independent A leading provider of e-commerce and Latin Ame
Slide 59: Consumer sector: distinctive brands loved by consumers
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 57 Consumer sector Distinctive brands loved by consumers Oakley has a long track Since inception, Oakley has built a track Sector investments record of investments in online and offline record of investing
Slide 60: Alessi: values that design us
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 58 Case Study Alessi is an Italian design brand behind some of the world’s most iconic homeware and kitchenware. Founded in Omegna, Italy in 1921, the business is celebrating its 100th anniversary with the
Slide 61: Our consumer investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 59 Consumer sector Our consumer investment portfolio North Sails Time Out idealista Facile North Sails comprises a portfolio of A trusted global brand that inspires and The leading online real estate classi
Slide 62: Our consumer investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 60 Consumer sector Our consumer investment portfolio Wishcard Technologies Group WindStar Medical Dexters Iconic BrandCo Based in Germany, Wishcard Technologies Germany’s leading over-the-counter London’s l
Slide 63: Our consumer investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 61 Consumer sector Our consumer investment portfolio The shift to online commerce is accelerating as consumers embrace D2C channels and engage with brands 7NXT atHome on social media. We leverage our German
Slide 64: Education sector: securing first class opportunities
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 62 Education sector Securing first class opportunities Education is a core Since investing in a premium private Sector investments schools group in 2013, Oakley identified sector, with five investments the
Slide 65: Ocean Technologies Group: vital software aboard
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 63 Case study Vital software aboard Since acquisition in 2019, Oakley has which has enabled the business to cross- transitioned Ocean Technologies Group sell new products and services to its (‘Ocean’) to be
Slide 66: Our education investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 64 Education sector Our education investment portfolio IU Group Schülerhilfe Ocean Technologies Group The largest and fastest-growing university The leading provider of after-school The leading provider of
Slide 67: Our education investment portfolio
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 65 Education sector Our education investment portfolio Global demand for quality, accessible education is growing. Oakley has a strong track record ICP Education A leading group of nurseries throughout ACE
Slide 68: ESG at OCI
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 66 ESG ESG at OCI Energy and climate change Diversity, equality Being a responsible investor, and taking and inclusion into consideration environmental, social and governance (‘ESG’) topics, is onmen Produc
Slide 69: Our Investment Adviser's ESG policy
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 67 ESG Our Investment Adviser’s ESG policy Oakley supports businesses Oakley recognises that sustainability and ESG factors are increasingly integral within three core sectors – to the operations and offeri
Slide 70: Our Investment Adviser's ESG policy
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 68 ESG Our Investment Adviser’s ESG policy Oakley supports businesses Oakley recognises that sustainability and ESG factors are increasingly integral within three core sectors – to the operations and offeri
Slide 71: ESG key stories
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 69 ESG Key stories Case study 1 Carbon footprint assessment In 2021, Oakley completed its first carbon footprint assessments, measuring the carbon emitted by 2 3 our scope 1 and 2 operations, along with bus
Slide 72: Our Investment Adviser's ESG policy
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 70 ESG Our Investment Adviser’s ESG policy The approach Pre-investment Portfolio engagement and When considering potential new monitoring Organisations the investments, we assess target Oakley is typically
Slide 73: Our principal risks and uncertainties
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 71 Principal risks Our principal risks The Board has developed a set of risk management policies, procedures and controls, and has delegated the monitoring, management, mitigation and oversight quantifiable
Slide 74: Principal risks
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 72 Principal risks Principal risks continued Key to risk management: Directly manage, control, mitigate and monitor Monitor and engage Investment Adviser for mitigation Risks categories Risks and uncertaint
Slide 75: Principal risks
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 73 Principal risks Principal risks continued Key to risk management: Directly manage, control, mitigate and monitor Monitor and engage investment adviser for mitigation Risks categories Risks and uncertaint
Slide 76: Principal risks
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 74 Principal risks Principal risks continued Key to risk management: Directly manage, control, mitigate and monitor Monitor and engage investment adviser for mitigation Risks categories Risks and uncertaint
Slide 77: Principal risks
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 75 Principal risks Principal risks continued Key to risk management: Directly manage, control, mitigate and monitor Monitor and engage investment adviser for mitigation Risks categories Risks and uncertaint
Slide 78: Stakeholder reporting
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 76 Stakeholder reporting Stakeholder reporting The Board is committed to understanding our stakeholders’ views and considering their interests in Board discussions, decision-making and reporting. This inclu
Slide 79: Stakeholder reporting
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 77 Stakeholder reporting Stakeholder group How the Board engages Key topics during the year Considering stakeholder interests Oakley Capital OCI invests in the Oakley Funds and Regular reporting: OCI receiv
Slide 80: Stakeholder reporting
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 78 Stakeholder reporting Stakeholder group How the Board engages Key topics during the year Considering stakeholder interests Service providers OCI engages with a range of service The Board as a whole, and
Slide 81: Governance report 2021
Oakley Capital Investments Annual report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 79 Governance 80 Board of Directors 107 Nomination Committee report 82 Directors’ report 109 Governance, Regulatory 88 Investment policy and Compliance Committee 89 Statement of Directors’ report responsibi
Slide 82: Board of Directors
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 80 Board of Directors An independent Board with broad relevant experience to support OCI as it grows. Caroline Foulger Richard Lightowler Fiona Beck Chair Senior Independent Director Non-Executive Director
Slide 83: Board of Directors
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 81 Board of Directors An independent Board with broad relevant experience to support OCI as it grows. Peter Dubens Stewart Porter Non-Executive Director Non-Executive Director Appointed to the Company’s Boa
Slide 84: Directors' report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 82 Directors’ report The Board of Directors Frequent engagement between Directors Conflict management and Oakley continued throughout the year The Board currently comprises the Chair The Directors declare o
Slide 85: Directors' report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 83 Directors’ report Investment management and OCL serves as the Investment Adviser Stewardship and delegation of administration and Operational Services Provider to responsibilities Focus on direct The Com
Slide 86: Directors' report: dividend policy and distributions
0 11 1 01 22 2 Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 84 Directors’ report 1 2 33 3 0 Capital Markets Day Dividend policy and distributions Unless specifically authorised by shareholders, no issuance of ordinary 23 044 4 1 The Board holds an ann
Slide 87: Directors' report: substantial shareholdings
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 85 Directors’ report Corporate and social responsibility Service providers and significant Shareholder understanding of the Company and agreements The Board considers the ongoing interests buy-in to its str
Slide 88: Directors' report: viability statement
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 86 Directors’ report Financial prospects and position The Board considers three years as Viability statement the most appropriate time period over Strategic considerations of the In compliance with Provisio
Slide 89: Directors' report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 87 Directors’ report Disclosure of information to the Political donations and expenditure Events after balance sheet date Commitment - on 26 January 2022, auditor The Company has made no political At the ti
Slide 90: Investment policy
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 88 Investment policy The following summary of OCI’s From time to time, Oakley may invite one Borrowing powers of the Company investment policy has been abbreviated or more Limited Partners in the Oakley As
Slide 91: Statement of Directors' responsibilities
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 89 Statement of Directors’ responsibilities The Directors are In preparing the Consolidated Financial The Directors are responsible for ensuring • the Consolidated Financial Statements, Statements, the Dire
Slide 92: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 90 Corporate Governance report The Board highly values the (i) Peter Dubens has waived his right to The Board In accordance with the Company’s bye- receive a Director’s fee; and laws and best practice, Dire
Slide 93: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 91 Corporate Governance report The Board actively oversees and challenges Board meetings Strategic discussions on Regular reports from the the effectiveness of all The principal matters reviewed and conside
Slide 94: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 92 Corporate Governance report Board training Reports from the Committees The Board considers on an ongoing • the UK Code includes provisions New Directors are provided with an of the Board basis the Princi
Slide 95: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 93 Corporate Governance report Board leadership Principle A Principle B and purpose A successful company is led by an effective Board, whose The Board should establish the Company’s purpose, values role is
Slide 96: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 94 Corporate Governance report Board leadership Principle C Principle D and purpose The Board should ensure that the necessary resources are in In order for the Company to meet its responsibilities to place
Slide 97: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 95 Corporate Governance report Board leadership Principle F Principle G and purpose The Chair leads the Board and is responsible for its overall The Board should consist of an appropriate combination effect
Slide 98: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 96 Corporate Governance report Board leadership Principle H Principle I and purpose Non-Executive Directors should have sufficient time to meet The Board, supported by the Company Secretary, should their Bo
Slide 99: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 97 Corporate Governance report Board leadership Principle J Caroline Foulger’s position as Chair is currently due to expire on 30 September 2022, approximately six years after her first and purpose Appointm
Slide 100: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 98 Corporate Governance report Board leadership Principle M Principle O and purpose The Board should establish formal and transparent The Board should establish procedures to manage risk, policies and proce
Slide 101: Corporate Governance report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 99 Corporate Governance report Board leadership Principle P Principle R and purpose Remuneration policies and practices should be designed to Directors should exercise independent judgement and support stra
Slide 102: Audit Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 100 Audit Committee report Underlying business performance of the Oakley portfolio companies and the methodologies and estimates used in their valuation is a key focus. Richard Lightowler Chair of the Commi
Slide 103: Audit Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 101 Audit Committee report The Audit Committee The principal role of the Audit Financial reporting Achievements in 2021 Committee is to consider the following ensures fair, balanced and matters and make app
Slide 104: Audit Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 102 Audit Committee report The Audit Committee concluded that KPMG Audit Limited (‘KPMG’ or the Any non-audit work carried out by the No material control weaknesses or the year-end valuation process had ‘Au
Slide 105: Risk Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 103 Risk Committee report Effective identification, management and mitigation of risks is central to the Company achieving its strategic objectives. Fiona Beck Chair of the Committee Other Committee members
Slide 106: Risk Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 104 Risk Committee report The Risk Committee Effective identification, management The Chair of the Risk Committee is Achievements in 2021 and mitigation of risks is central to appointed by the Board of Dire
Slide 107: Management Engagement Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 105 Management Engagement Committee report Comparative performance, benchmarking of fees and service quality were 2021 priorities, with ESG and diversity areas of focus in 2022. Caroline Foulger Chair of th
Slide 108: Management Engagement Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 106 Management Engagement Committee report The Management Investment Adviser, Operational It is the opinion of the Committee Achievements in 2021 Service Provider and Administrator that the consolidation of
Slide 109: Nomination Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 107 Nomination Committee report Enhanced Board Effectiveness Review process and continued effective operation of the Board and its committees. Caroline Foulger Chair of the Committee Other Committee members
Slide 110: Nomination Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 108 Nomination Committee report The Nomination Members of the Committee vote on the There were no changes deemed Achievements in 2021 election of new candidates, following appropriate or made in the composi
Slide 111: Governance, Regulatory and Compliance Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 109 Governance, Regulatory and Compliance Committee report The Company welcomes and encourages the benefits that inclusion and diversity can bring to its key service providers and its Board. Fiona Beck Chai
Slide 112: Governance, Regulatory and Compliance Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 110 Governance, Regulatory and Compliance Committee report The Governance, Diversity and inclusion Regulatory and compliance Achievements in 2021 Regulatory and The Company welcomes and The year saw continu
Slide 113: Remuneration Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 111 Remuneration Committee report Fiscally prudent unchanged remuneration for 2021, with continued focus on talent retention and attraction of experienced, diverse skill-sets. Richard Lightowler Chair of th
Slide 114: Remuneration Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 112 Remuneration Committee report The Remuneration The purpose of the Committee is to The increasingly active engagement of Achievements in 2021 determine and make recommendations Board Directors directly w
Slide 115: Remuneration Committee report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 113 Remuneration Committee report Directors are remunerated Remuneration report Directors’ interests in shares of the Company in the form of fixed fees The Non-Executive Directors who served in the period f
Slide 116: Alternative Investment Fund Managers Directive
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 114 Alternative Investment Fund Managers Directive The Company continuously Status and legal form Liquidity management Remuneration disclosure monitors liquidity to ensure The Company is a self-managed non-
Slide 117: Shareholder information
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 115 Shareholder information OCI shares can be Financial calendar Dividend Rights attaching to shares purchased through a The announcement and publication of The final dividend proposed in respect The rights
Slide 118: Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 116 Consolidated Financial Statements 117 Independent Auditor’s Report 125 Consolidated statement of cash flows 122 Consolidated statement of 126 Notes to the Consolidated Financial comprehensive income Sta
Slide 119: Independent Auditor's Report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 117 Independent Auditor’s Report To the Shareholders and Board of Directors of Oakley Capital Basis for opinion Investments Limited We conducted our audit in accordance with International Standards on Audit
Slide 120: Independent Auditor's Report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 118 Independent Auditor’s Report The key audit matter How the matter was addressed in our audit Valuation of the Funds We obtained management’s schedule of investments comprising the fair value of the Compa
Slide 121: Independent Auditor's Report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 119 Independent Auditor’s Report The key audit matter How the matter was addressed in our audit Valuation of the unquoted debt securities We engaged KPMG valuation specialists to assist in testing the valua
Slide 122: Independent Auditor's Report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 120 Independent Auditor’s Report Other information in the Annual Report misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggreg
Slide 123: Independent Auditor's Report
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 121 Independent Auditor’s Report We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any sig
Slide 124: Consolidated statement of comprehensive income
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 122 Consolidated Financial Statements Consolidated statement of comprehensive income For the year ended 31 December 2021 2021 2020 Notes £’000 £’000 Income Interest income 13 10,073 10,466 Net realised gain
Slide 125: Consolidated balance sheet
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 123 Consolidated Financial Statements Consolidated balance sheet As at 31 December 2021 2021 2020 Notes £’000 £’000 Assets Non-current assets Investments 6, 8 798,658 505,124 798,658 505,124 Current assets
Slide 126: Consolidated statement of changes in equity
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 124 Consolidated Financial Statements Consolidated statement of changes in equity For the year ended 31 December 2021 Total Share Share Retained shareholders’ capital premium earnings equity Notes £’000 £’0
Slide 127: Consolidated statement of cash flows
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 125 Consolidated Financial Statements Consolidated statement of cash flows For the year ended 31 December 2021 2021 2020 Notes £’000 £’000 Cash flows from operating activities Purchases of investments (120,
Slide 128: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 126 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
Slide 129: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 127 Notes to the Consolidated Financial Statements 2. Basis of preparation This included assessment of counterparty risk, interest rates and future cash flow projections; and The Consolidated Financial Stat
Slide 130: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 128 Notes to the Consolidated Financial Statements 3. Significant accounting policies continued 3.3 Investments 3.2 Basis for consolidation (a) Classification The Consolidated Financial Statements have been
Slide 131: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 129 Notes to the Consolidated Financial Statements 3. Significant accounting policies continued amount on initial recognition. Interest income is recognised gross of withholding (c) Derecognition tax, if an
Slide 132: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 130 Notes to the Consolidated Financial Statements 3. Significant accounting policies continued increases in inflation within economies the Funds invest in that have led to a higher share are determined by
Slide 133: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 131 Notes to the Consolidated Financial Statements 5. Financial risk management continued Consequently, the risk exists that the Company might not be able to readily Key risks and uncertainties of the Compa
Slide 134: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 132 Notes to the Consolidated Financial Statements 5. Financial risk management continued (c) Price risk – market fluctuations The impact of an increase in interest rates of 100 basis points on cash and dep
Slide 135: Notes: Investments 2021
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 133 Notes to the Consolidated Financial Statements 6. Investments Investments as at 31 December 2021: Net change in 2020 Purchases/ Total sales/ Realised gains Interest unrealised gains 2021 Fair value capi
Slide 136: Notes: Investments 2020
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 134 Notes to the Consolidated Financial Statements 6. Investments continued Investments as at 31 December 2020: Net change 2019 Purchases/ Total sales/ Realised Interest in unrealised 2020 Fair value capita
Slide 137: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 135 Notes to the Consolidated Financial Statements 7. Net gains/(losses) from investments at fair value through profit and loss The Company considers observable data to be market data that is readily availa
Slide 138: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 136 Notes to the Consolidated Financial Statements 8. Disclosure about fair value of financial instruments continued As at 31 December 2021, the value of the Funds’ investments, other assets and liabilities
Slide 139: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 137 Notes to the Consolidated Financial Statements 8. Disclosure about fair value of financial instruments continued For the purposes of sensitivity analysis, the Company considers a 10% adjustment The Comp
Slide 140: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 138 Notes to the Consolidated Financial Statements 8. Disclosure about fair value of financial instruments continued Other financial instruments Unquoted debt Financial instruments, other than financial ins
Slide 141: Notes: Segment information
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 139 Notes to the Consolidated Financial Statements 9. Segment information continued The segment information for the year ended 31 December 2021 is as follows: The segment information for the year ended 31 D
Slide 142: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 140 Notes to the Consolidated Financial Statements 11. Trade and other receivables 15. Investment related fees 2021 2020 Included in Investment related fees are operational and performance fees paid to £’00
Slide 143: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 141 Notes to the Consolidated Financial Statements 16. Operating expenses (c) Auditor’s remuneration The following expenses are included in operating expenses: The Company’s auditor is KPMG Audit Limited (‘
Slide 144: Notes to the Consolidated Financial Statements
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 142 Notes to the Consolidated Financial Statements During the year ended 31 December 2020, the Company purchased the following ordinary shares: 19. Net asset value per share Number of Purchase The NAV per s
Slide 145: Notes: Dividends and related parties
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 143 Notes to the Consolidated Financial Statements 21. Dividends 23. Related parties On 11 March 2021, the Board of Directors declared a final dividend for 2020 of Related parties transactions not disclosed
Slide 146: Directors and Advisers
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 144 Directors and Advisers Directors Advisers Caroline Foulger Administrative Agent* Legal Adviser as to Bermuda Law Chair Oakley Capital Limited Conyers Dill & Pearman Limited 3 Cadogan Gate Clarendon Hous
Slide 147: Glossary and Alternative Performance Measures
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 145 Glossary and Alternative Performance Measures Administrative Agent Oakley Capital Limited (‘OCL’), in respect of the Company. AIF Alternative Investment Fund; as at 31 December 2021, Oakley Capital Inve
Slide 148: Glossary and Alternative Performance Measures
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 146 Glossary and Alternative Performance Measures Fund II / Oakley Fund II Those limited partnerships constituting the Fund known as Oakley Capital Private Equity II, comprising Oakley Capital Private Equit
Slide 149: Glossary and Alternative Performance Measures
Oakley Capital Investments Annual Report 2021 STRATEGIC REPORT GOVERNANCE FINANCIALS GLOSSARY 147 Glossary and Alternative Performance Measures Ongoing charges Ongoing charges are calculated in accordance with the guidelines issued by the Association of Investment Companies (‘AIC’). They comprise re
Slide 150: Designed and produced by Friend
Oakley Capital Investments Annual Report 2021 148 Designed and produced by Friend www.friendstudio.com
Oakley Capital Investments — FY2021 Earnings Presentation on 6ix