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20 Dec 2023 09:39
Oakley Capital Investments - Update from QuotedData
20th December 2023
Walking the walk
Despite broader economic challenges, Oakley Capital Investments (OCI) continues to deliver outstanding, market beating shareholder returns. Its focus on cash-generative companies with recurring revenues and asset-light business models means the portfolio remains well insulated as financial conditions have tightened, highlighted by double digit earnings growth over the last financial year. The staggered nature of its investments has provided a consistent stream of realisations (at an average premium of 35%), validating net asset values (NAVs) and providing plenty of financial flexibility.
The latest of these was the £240m sale of its stake in IU group, which crystalised an 85% IRR. Despite this execution and market leading track record, shares remain at a considerable discount to NAV. While this reflects broader market weakness across unlisted assets, it is difficult to see how it can be justified over the long term given the strength of the company's NAV growth.
Full Research:
https://quoteddata.com/research/oakley-capital-investments-walking-walk-qd/
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NB: Marten & Co was paid to produce this note on Oakley Capital Investments and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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