Oakley confident in the long term as portfolio grows in first quarter

(Alliance News) - Oakley Capital Investments Ltd on Wednesday reported marginal growth during the ...

Alliance News 24 April, 2024 | 9:59AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Oakley Capital Investments Ltd on Wednesday reported marginal growth during the first quarter of 2024.

The Bermuda-based private equity firm grew its net asset value in the opening quarter by 3.7% to GBP1.22 billion from GBP1.18 billion last year.

NAV per share increased to 693.00 pence from 668.00p.

"The underlying businesses in the portfolio continue to perform well in an uncertain macroeconomic environment, benefitting from robust demand for their products and services as well as from value creation strategies," Oakley said.

During the first quarter Oakley did not divest from any of its holdings and opted to invest GBP27 million into new companies.

As it stands, Oakley finished the quarter with GBP249 million in cash as well as GBP100 million of undrawn credit facilities which will be deployed into new investments over the next five years.

The company added: "The board closely monitors anticipated fund drawdowns and projected liquidity and will continue its long-term commitment to share buybacks when appropriate."

Oakley shares were up 1.2% to 483.90 pence each in London on Wednesday morning.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Oakley Capital Investments Ord 475.50 GBX 0.21

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures