Oakley Capital Investments net asset value rises on earnings growth

Wed, 28th Jan 2026 11:20

(Alliance News) - Oakley Capital Investments Ltd on Wednesday said it delivered a "robust performance" in 2025, driven by earnings growth and successful exits in its underlying portfolio.

The provider of exposure to the education, technology, consumer and business service sectors through investments in Oakley Capital funds said its net asset value per share was 738 pence at the end of December, or GBP1.23 billion in total.

It reported a NAV total per share return including dividends of 6%, or 45p, since the end of 2024, or 3%, plus 23p, excluding the impact of foreign exchange.

Since the end of September 2025, the total NAV per share return was 1%, or 8p.

Oakley Capital said the full year total NAV return includes 45p of net valuation gains, around 90% of which were driven by earnings growth.

The largest contributors were VLex Ltd, Phenna Group Holdings Ltd, TechInsights Inc, North Sails LLC and Bright Stars Ltd, offset by the decline in the share price of Time Out Group PLC.

"A cautious approach to valuation multiples was maintained, with half of portfolio companies held at or below the multiple paid. This reflects declines in peer valuations as well as a comparatively young portfolio, with [around] 35% of NAV comprising investments made in the last two years," Oakley Capital said.

Looking ahead, Oakley Capital said it expects NAV momentum as portfolio companies "benefit from increasing operational maturity as well as the value creation potential across the portfolio".

Oakley Capital Investments said it made a total look-through investment of GBP197 million, equivalent to 16% of year-end NAV.

On January 8, it completed its GBP50 million share buyback programme. As previously announced, it has allocated a minimum of GBP20 million to its annual buyback programme for 2026.

Oakley Capital Investments expects to report its annual results for 2025 on March 12.

Shares in Oakley Capital Investments were down 0.2% at 544.66p on Wednesday morning in London.

By Michael Hennessey, Alliance News reporter

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