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Interim Results Presentation H1 2018
1
Oakley Capital Investments – Six Months of Progress
£1.95(1)
Share price
£2.59pNAV per share
29%Discount
14%(2)
Total shareholder return
6%(2)
NAV per share growth
2.25pHalf-Year Dividend
£
£
Note: (1) As at 31 August 2018 (2) From December 2017
1 2 3NAV discount gap closing
Portfolio performanceGrowing shareholder
returns
£
2
Oakley Capital Funds Successful exits drive returns
£62mAcquisitions
Career Partner Group
Facile (re-investment)
North Sails (follow on investment)
£102mRealisations
Parship Elite
Verivox
Facile
£
3
OCI share price growth 7% 22% 82%
Strong Share and NAV Performance
5 year NAV per share CAGR of 17%
1 year 5 years 10 years
OCI NAV per share growth 12% 33% 160%
0
100
200
300
400
500
600
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1.6
1.8
2
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
OCI NAV & NAV per Share
NAV £m NAV per share
£m £
4
Cash/Other Assets
& Liabilities
Co-Investment
Oakley FundInvestment
Note: (1) As at 30 June 2018
£530m NAV by investment type (1)
Fund Investment Drives Performance
£250m
122p per share
40% IRR
Equity
£61m
30p per share
(2%) IRR
Debt
£71m
35p per share
11% IRR
£148m
72p per share
25%
28%
47%Co-Investment
€ $£
60% 25% 15%
5
NAV by company
Note: As at 30 June 2018
A Balanced Portfolio Across Three Distinct Sectors
Facile£28.9mInspired
£55.9m
TechInsights£18.3m
CONSUMER
Fund Investment
Time Out£55.0m
North Sails£37.9m
Debt: £32.7m
Casa & atHome£41.1m
Schülerhilfe£34.8m
Career Partner Group£30.5m
Daisy£16.3m
Debt: £29.4m
Plesk£15.7m
AMOS£11.1m
EDUCATION
TMT
Damovo£15.4m
6
0
1
2
3
4
5
<10% 10 - 30% >30%
No
. o
f C
om
pan
ies
Portfolio Company EBITDA growth vs prior year
Note: (1) Multiple analysis based on EV, Net Debt and EBITDA as at 30 June 2018 valuations. Analysis Excludes Time Out Group plc.
0
1
2
3
4
5
Net cash < 3x 3x - 5x 5x -7x
No
. o
f C
om
pan
ies
Portfolio Company Net Debt/EBITDA(1)
3.9xAvg 2018 Net Debt/EBITDA
11.6xAvg June Valuation Multiple
29%Avg 2018 year on year
EBITDA Growth
High Growth, Conservative Debt, Modest Valuations
Portfolio analysis
0
1
2
3
4
5
< 10x 10x - 12x >12x
No
. o
f C
om
pan
ies
Portfolio Company EV / EBITDA (1)
Fund Investment
7 7
Process
Strategy/Policy
Current Investments (1)
Recipient
Time Out
Amount
Inspired
June 2018
£28.6m
£60.7m
£32.1m
£
Co-Investment Equity
Co-Investment
Where attractive to do so OCI takes direct equity stakes in portfolio companies when an Oakley fund can no longer make follow on investment (e.g. Time Out). The board will also consider directly holding stakes that are currently held via a fund when an Oakley fund has to sell at the end of its life (e.g. Inspired).
The Oakley investment committee submits written co-investment proposals to the OCI board for their consideration and approval.
Note: (1) As at 30 June 2018
8
Co-Investment Debt
If OCI has appropriate cash levels, it will consider providing debt instruments to the portfolio companies if the returns are appropriate.
The rate will be that which the portfolio companies would be paying an institution if OCI wasn’t providing the instrument.
Recipient
Daisy
Amount Interest
North Sails
Fund Facilities
June 2018
Maturity
£29.5m
£71.2m
£32.8m
£8.9m
5%
10-12%
6.5%
31 May 2019
30 November 2018
Sub 1 yr, revolving facility
Strategy/Policy
Process
Current Investments (1)£
Co-Investment
Note: (1) As at 30 June 2018
9
Meeting Commitments & Maximising Future Potential
£150m Cash at 30 June 2018 post disposals and refinancings
£163m Outstanding commitment to
funds
Conservative cover, but avoiding excessive drag
97%
33%26%
56%
32%24% 22%
2%
24% 22%16%
28%
0%
20%
40%
60%
80%
100%
120%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
£m
Net Cash as % NAV
Cash / Other Assets & Liabilities
10
£41.1m
£34.8m
£30.5m
£28.9m
£18.3m
£15.7m
£11.1m
£70.7m
£45.8m
£55.9m
£55.0m
£0.0m
£20.0m
£40.0m
£60.0m
£80.0m
£100.0m
£120.0m
£140.0m
£160.0m
£180.0m
£200.0m
<2 years 2-4 years 4+ years
Balanced Maturity Profile3.5 years average investment holding period
Holding Period
£172m£180m
£55m
Note: As at 30 June 2018 * Updated for post period disposal (Damovo completed in August 2018)
Plesk
TechInsights
Schülerhilfe
AMOS
CPG
Casa & atHome
North Sails
Inspired
Facile
Time Out
Daisy
11
Realisations YTD deliver £102m of OCI proceeds & added 14p to NAV
• Organic growth & synergistic acquisition
• 3x increase in EBITDA
Premium to Fair Value
• 4.7x MM, 118% IRR (1)
2018 Disposals Drive Returns
Note: (1) Gross returns to Oakley Fund II
+21%
Premium to Fair Value
• 2.5x MM, 44% IRR (1)
• Structural growth drove market leader
• 4x increase in Revenue
+38%
Premium to Fair Value
+56%
• Underlying structural growth & revenue diversification
• 3x increase in EBITDA
• 3.7x MM, 51% IRR (1)
Oakley Capital Private Equity
13
An Established Mid-Cap Investor With Superior Returns
Mid Cap Investor
€1.6bn
Western European Focus
Target size Enterprise Value
€60m -€300m
Funds under management
Sector Expertise
Consumer Digital
TMT
Education
Strong Performance
Gross IRR
40%
6 of 7
% Fund III deals sourced or diligenced by Oakley
Network
Introducing Oakley Capital
14
Verivox I
Emesa
Educas
Monument
Broadstone
Headland Media
Host Europe
Daisy plc
Intergenia I
Facile.it
Parship Elite Group
Verivox II
Intergenia II
HEG Damovo
(40%)
(20%)
-
20%
40%
60%
80%
100%
120%
140%
- 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x 7.0x
Gro
ss I
RR
Gross MM
MM & IRR Exited Deals Fund I Fund II
Consistent Strong Performance since Fund I
14
Target 30% IRR
Target 2.5x MM
>10.0x
15
Superior Returns Based On A Virtuous Investment Circle Built Around Oakley’s DNA ...
15
Entrepreneurial heritage & culture
Proprietary sourcing channels and capabilities
Exceptional returns across Oakley funds
Deep sector & geographic expertise in Oakley team and network
De-risking complex deals
Growing family of Oakley entrepreneurs & managers1
2
34
5
16
Value investing in growth sectors – complex primary deals acquired at attractive multiples
Note: Please note averages are simple arithmetic means across the data sets (1) Excludes Broadstone, as businesses loss making at point of acquisition (2) Entry average excludes Daisy Group plc as it was a share deal (3) Excludes Broadstone and Monument as loss making on exit (4) Fund II & III Entry Average includes pro forma multiples
EV/EBITDA Multiples
0.0x
2.0x
4.0x
6.0x
8.0x
10.0x
12.0x
14.0x
16.0x
Av. Entry Entry SectorAv.
Av. Exit
Fund I
(1) (1,2) (3)(4) (4)
0.0x
2.0x
4.0x
6.0x
8.0x
10.0x
12.0x
14.0x
16.0x
Av. Entry Entry SectorAv.
Av. Exit
Fund III
0.0x
2.0x
4.0x
6.0x
8.0x
10.0x
12.0x
14.0x
Av. Entry Entry SectorAv.
Av. Exit
Fund II
17
Sector Expertise
Focus on core sectors & geographies drive competitive advantage
Consumer
Oakley’s core concentration is Digital Consumer,
with the focus beingon marketing-led businesseswith leading positions in their
respective industries.
TMT
Originally investing in hosting andtelecoms space, Oakley’s experience
and insightful network has helpedto target businesses that are keyto supporting advancements in
technology.
Education
A sector with very attractivefundamentals, Education has
grown to become a significantarea of investment for Oakley, withportfolio companies across different
segments of the market.
Value
£195.6mValue
£95.3mValue
£132.2mof OCI NAV
37%of OCI NAV
18%of OCI NAV
25%
Fund II asset Fund III assetFund I asset
Note: As at 30 June 2018
Consumer
RevenueJune 2018F
c.€36.5m
Location EBITDA June 2018F
c.€12.5m
EBITDA growth FY17-FY18F
c.89%
The leading online property portal in Luxembourg and #2 in Italy
An under-managed business in a coreOakley sector
Control panel software simplifying the lives of developers and Web Professionals
A defensive business model with recurring revenue and strong cash generation
TMT
Revenue June 18 LTM
$40.2m $20.8m
YoY EBITDA growth
53%
Location EBITDA June 18 LTM
Career Partner Group
One of the most highly ranked universities in Germany
CPG is one of the fastest growing private university groups in Germany
A market leader in Germany’s rapidly growing Online University and Dual Study sectors
Revenue June 18 LTM
€71.5m
EBITDA June 18 LTM
€12.9m
YoY EBITDA growth
78%
Location
Education
21
Current Portfolio – Consumer
Entry Date: Sep-14 / Fund II
Cost: £0.0m
Valuation: £33.1m (Realised £51.6m)
EBITDA Growth: >30%
Online Price Comparison (Italy)
Entry Date: Aug-15 / Fund II
Cost: £0.0m
Valuation: £11.0m (Realised £15.1m)
EBITDA Growth: >30%
Online Price Comparison (Germany)
Entry Date: Apr-15 / Fund II
Cost: £0.0m
Valuation: £29.5m (Realised £35.6m)
EBITDA Growth: >30%
Online Dating
Entry Date: Jan-17 / Fund III
Cost: £26.3m
Valuation: £41.1m
EBITDA Growth: <10%
Online Real Estate Websites
Key Strategic Initiatives:
– Restructuring completed as planned delivering c.€5m cost savings
– New independent Chair appointed
– Build Casa market share
– M&A is being reviewed
Key Strategic Initiatives:
– New price comparison product verticals added to diversify revenue base
– Maintaining strong brand awareness through advertising
Key Strategic Initiatives:
– Successful merger with Elite Partner in June 2013
– Partial realisation to ProSieben in September 2016
– Full realisation to ProSieben agreed at EV €440m
Key Strategic Initiatives:
– Benefit from synergies with ProSieben, further verticals added to product mix to increase CLV
– Full realisation to ProSieben agreed at EV €530m
Note: Parship, Facile and Verivox disposed of prior to 30 June 2018
Recently Exited
Recently Exited Recently Exited
22
Entry Date: Mar-14 / Fund II
Cost: £35.4m
Valuation: £37.9m
EBITDA Growth: <10%
Global market leader in sails & spars
Current Portfolio – Consumer
Entry Date: Nov-10 / Fund I
Cost: £44.9m
Valuation: £26.3m
EBITDA Growth: <10%
Global Media & E-commerce
Key Strategic Initiatives:
– 2017 revenue grew 20% to c.£45m. 2018 forecast c.£60m and £5m EBITDA loss.
– E-commerce – Growth driven by; more inventory, site upgrades, multi language, more cities on platform
– Time Out Market – Lisbon exceeding expectations, 5 new sites signed and set to open in next 2 years.
Key Strategic Initiatives:
– Ongoing M&A to increase market position
– Operational improvements in core sails business
– Global brand building, leveraging America’s Cup success
23
Current Portfolio – TMT
Entry Date: Jan-15 / Fund II
Cost: £2.9m
Valuation: £15.4m
EBITDA Growth: 10%-30%
ICT Solutions Provider
Entry Date: Jul-15 / Fund II
Cost: £10.2m
Valuation: £16.3m
EBITDA Growth: 10%-30%
ICT Solutions Provider
Key Strategic Initiatives:
– Transformative M&A undertaken to create scale
– Two public to private acquisitions completed –Phoenix & Alternative Networks
Entry Date: Apr-17 / Fund III
Cost: £9.4m
Valuation: £15.7m
EBITDA Growth: <10%
Control Panel Software
Key Strategic Initiatives:
– Completed acquisition of XOVI, a SaaS SEO optimisation service in July 2017
– New pricing strategy delivering margin growth well ahead of investment case
Key Strategic Initiatives:
– Broadening product range
– Increasing customer base
– Selective infill M&A
Entry Date: May-17 / Fund III
Cost: £4.3m
Valuation: £18.3m
EBITDA Growth: 10%-30%
Technology –Reverse Engineering
Key Strategic Initiatives:
– Integration of nearest rival now complete
– Build out different product lines to increase revenue
– New CEO recruited for Subscription Services
24
Current Portfolio - Education
Entry Date: Jan-18 / Fund III
Cost: £30.5m
Valuation: £30.5m
EBITDA Growth: 10%-30%
German Online University
Key Strategic Initiatives:
– Continue to grow business organically
– Grow customer base through product investment
Entry Date: Jul-17 / Fund III
Cost: £30.8m
Valuation: £34.8m
EBITDA Growth: 10%-30%
After School Tutoring
Key Strategic Initiatives:
– Continued steady growth in market share (11% currently)
Entry Date: Aug-17 / Fund III
Cost: £6.8m
Valuation: £11.1m
EBITDA Growth: >30%
French Business School
Key Strategic Initiatives:
– Strong growth in existing portfolio and 2 further sites planned
– Pursuing platform strategy with further tertiary targets under due diligence
Entry Date: Aug-14 / Fund II
Cost: £12.4m
Valuation: £23.8m
EBITDA Growth: >30%
Global Premium Private Schools Group
Key Strategic Initiatives:
– Rapid growth in schools from 4 to 35
– Shift from domestic S. African to truly international group
– Partial realisation and refinancing in 2017
Appendix 1
Narrowing the discount
26
Topic Status Comment
Prevent NAV Dilution
“Going forward the Board does not intend to issue equity or sell stock from treasury at a discount to NAV”.
Message repeated in 3 announcements through out 2017.
Alignment of Interest
OCI Board and Oakley Partners hold c.5% of OCI shares vs 1.2% a year ago.
Returning Cash Dividend: FY 4.5p announced in 2017, level to be maintained.
Buyback: The board plans to initiate further share buy backs in due course.
Closing the GapNarrowing the NAV discount (1)
27
Closing the Gap
Topic Status Comment
Greater Disclosure Reconciliation of OCI holdings, more investment detail, increased communications.Ahead: regularly updated fact sheet, more materials available on an upgraded website including research.
Share Liquidity & Shareholder Concentration
Since start of IR programme in 2017:Total Volume 147m shares +82%Avg daily volume 425kTop Ten Holders 79% (today) vs 91% (start of 2017)
Gold Standard Listing
Currently Bermuda incorporation & AIM listing.A review of the listing has been completed and our legal advice sought regarding our ability to meet main list requirements.
Board Composition & Duration
Accrued significant experience. New candidates being considered.
Narrowing the NAV discount (2)
Appendix 2
Fees
29
2%
2%
20%Up to
2%
On investments held directly by OCI (i.e. not including the Oakley Funds)
£Recharge costs incurred either directly / indirectly on behalf of OCI
On returns earned by OCI over and above 8% pa hurdle rate on directly held investments
Of the equity transaction value
Fees
Co-Investment
20%
Oakley Funds
On returns above a 8% pa hurdle rate
On commitment for a 5 year period post Fund inception; thereafter 2% on capital invested
OCI makes direct investments in portfolio companies when an investment opportunity is either too large for a Fund or beyond its life span.
OCI Administration
Management Fee
Performance Fee
Management Fee
Performance Fee
Advisory Fee
Operational Costs
Appendix 3
Fund Structure and the Investment Team
31
Oakley Capital Investments (OCI)Accessing the top quartile performance of the Oakley funds
Oakley Capital Investments€704m
Investment Advisor
Portfolio Companies
Equity and DebtCo-Investments
L.P.s €908m
Oakley Funds (I, II & III)
Total Capital Committed
Private Equity Funds
32
StructureGiving OCI access to a unique network and exposure to high performance
The Company
Oakley Capital Investments Limited
The Administrative Agent
Oakley Capital Manager Limited
The Investment Adviser
Oakley Capital Limited
About OCIOCI is a closed-ended investmentcompany with the principal objective toachieve capital appreciation throughinvestments in a diversified portfolio ofprivate mid-market businesses primarily inEurope. OCI offers investors a liquidinvestment vehicle, through which theycan obtain exposure to the underlyingOakley Funds with minimal administrativeburden, no long-term lock-up and nominimum investment size. The OCI Boardhas the ultimate decision to invest (or takeany other action). In the ordinary course itmakes decisions, after reviewing therecommendations provided by theInvestment Adviser.
About OCMLOakley Capital Manager Limited (the“Administrative Agent”) providesoperational assistance and services to theBoard with respect to OCI’s investmentsand its general administration. TheAdministrative Agent is managed byexperienced administrative and operationalexecutives.
About OCLOakley Capital Limited (“Oakley”) serves asinvestment adviser to the AdministrativeAgent with respect to OCI. It wasincorporated in England and Wales in2000, and is authorised and regulated bythe Financial Conduct Authority. Oakley isprimarily responsible for makinginvestment recommendations along withstructuring and negotiating deals for theOakley Funds.
33
Rebecca GibsonPartner
– 16 years investment experience
– Previously a Partner at Cinven
– Sector experience includes healthcare, retail, service sectors, consumer
David TillSenior Partner
– David co-founded the Oakley Capital Group with Peter
– David worked with Peter on developing Pipex and 365 Media 2002 -2007
– Responsible for operations and development of Oakley and its activities
David BrickellPartner
– 17 years investment experience
– Strong Media & TMT background
– Co-founder of a SaaS internet start-up
Ralf SchremperPartner
– 15 years M&A and investment experience
– Previously Member of Executive Board and CIO at ProSiebenSat.1
– Sector experience includes media, digital, marketing services, commerce and healthcare
Peter DubensManaging Partner
– >20 years experience
– Serial entrepreneur
– Success in the public markets and TMT sector with Pipex and 365 Media
– Founded Oakley Capital in 2002
Alex CollinsPartner
– 20 years of PE investing and operational experience
– Alex has worked on a range of deals from growth equity and MBOs to turnaround situations
5
Experienced Leadership Team of Investment Professionals and Entrepreneurs / Operators
Arthur MorningtonPartner
– 15 years of PE investing experience
– Previously a Partner at Charterhouse
– Sector experience includes media, education and business services
Appendix 4
Fund Valuations
35 35
Overview of OCI’s Underlying InvestmentsFund Investments Sector Location
Year of Investment
Residual Cost Fair Value
Fund I Time Out Consumer Global 2010 £44.9m £26.3m
OCI's proportionate allocation of Fund I investments (on a look through basis) £26.3m
Other Assets and Liabilites (£1.6m)
OCI's investment in Fund I £24.8m
Fund II North Sails Consumer Global 2014 £35.4m £37.9m
Fund II Inspired Education Global 2014 £12.4m £23.8m
Fund II Facile.it Consumer Italy 2014 £2.2m £0.0m
Fund II Damovo TMT Germany 2015 £2.9m £15.4m
Fund II Parship Elite Group Consumer Germany 2015 £0.0m £0.0m
Fund II Daisy TMT UK 2015 £10.2m £16.3m
Fund II Verivox Consumer Germany 2015 (£0.0m) £0.0m
OCI's proportionate allocation of Fund II investments (on a look through basis) £93.5m
Other Assets and Liabilites (£10.0m)
OCI's investment in Fund II £83.4m
Fund III Casa / atHome Consumer Italy 2017 £26.3m £41.1m
Fund III Schulerhilfe Education Germany 2017 £30.8m £34.8m
Fund III Plesk TMT Switzerland 2017 £9.4m £15.7m
Fund III TechInsights TMT Canada 2017 £4.3m £18.3m
Fund III AMOS Education France 2017 £6.8m £11.1m
Fund III CPG Education Germany 2018 £30.5m £30.5m
Fund III Facile.it Consumer Italy 2018 £28.9m £28.9m
OCI's proportionate allocation of Fund III investments (on a look through basis) £180.4m
Other Assets and Liabilites (£39.0m)
OCI's investment in Fund III £141.4m
Co-investment:
Equity Time Out Consumer Global 2010 £47.2m £28.6m
Equity Inspired Education Global 2017 £13.0m £32.1m
Debt Daisy TMT UK 2015 £23.2m £29.5m
Debt North Sails Consumer Global 2014 £25.9m £32.8m
Debt Fund Facilities n/a n/a n/a £8.9m
Total Co-investments £131.8m
Total OCI investments £381.5m
36
Fund III: Valuation
As at 30 Jun 2018EUR million
Date of initial investment
Sector Business Description HoldingTotal Cost invested
Column4
Distributions Fair ValueGross Money
MultipleGross IRR on investments
OPEN INVESTMENTS
Casa & atHome Jan-17 Digital Consumer Property Classifieds 83% 104.3 28.9 119.5 1.4x 28%
Plesk Apr-17 TMT Software/Hosting 51% 25.3 46.2 1.8x 67%
TechInsights May-17 TMT Technology Intelligence 62% 11.9 (1) 56.5 4.7x 151%
Schülerhilfe Jul-17 Education Private Tutoring 48% (2) 85.9 98.2 1.1x 15%
AMOS Aug-17 Education Higher Education 74% 18.2 32.6 1.8x 99%
CPG Jan-18 Education Higher Education 67% 84.6 84.6 1.0x 0%
Facile.it May-18 Digital Consumer Price Comparison 21% 80.3 80.3 1.0x 0%
Total gross portfolio 410.5 28.9 517.9 1.3x 38%
Net Returns 1.2x 25%
30 June 2018
(1) Underwritten equity of €44.5m was refinanced within 3 months so investment cost was restated to €11.9m (2) Fund III through its majority positions in various entities controls 72% of voting rights in Schülerhilfe
37
Fund II: Valuation
As at 30 Jun 2018EUR million
Date of initial investment
Sector Business DescriptionTotal Cost invested
Distributions Fair ValueGross Money
MultipleGross IRR on investments
OPEN INVESTMENTS
North Sails Mar-14 Global Brands Maritime Manufacturing 117.7 - 118.4 1.0x 0%
Inspired Aug-14 Education Private Schools Group 79.7 52.4 82.8 1.7x 30%
Daisy Jul-15 TMT Telecoms 37.2 - 54.0 1.5x 16%
Damovo Jan-15 TMT Unified Comms 10.5 - 56.6 5.4x 63%
Total gross unrealised 245.1 52.4 311.8 1.5x 16%
EXITED INVESTMENTS
Intergenia Jan-14 TMT Webhosting 49.6 68.1 - 1.4x 46%
HEG Jan-15 TMT Webhosting 20.0 42.4 - 2.1x 40%
Parship Elite Group Apr-15 Digital Consumer Online Dating 56.7 266.3 - 4.7x 118%
Verivox Aug-15 Digital Consumer Price Comparison 21.5 53.5 - 2.5x 44%
Facile.it Sep-14 Digital Consumer Price Comparison 70.5 261.9 - 3.7x 51%
Total gross realised 218.3 692.2 - 3.2x 63%
Total gross portfolio 463.4 744.6 311.8 2.3x 41%
Net Returns 1.9x 32%
30 June 2018
(1) Damovo: €11.4m represents the amount that Fund II expects to receive in deferred consideration. This is dependent on Damovo’sfinancial performance in the year to 31 January 2019
38
Fund I: Valuation
30 June 2018
As at 30 Jun 2018EUR million
Date of initial investment Business Description Total Cost invested Distributions Fair ValueColumn2
Gross Money Multiple
Gross IRR on investments
OPEN INVESTMENTS
Time Out Group plc Nov-10 Media & Ecommerce 82.1 - 45.5 0.6x (12%)
Total gross unrealised 82.1 0.0 45.5 0.6x (12%)
EXITED INVESTMENTS
Headland Media Jan-08 Digital media 5.7 15.1 - 2.7x 28%
Host Europe Apr-08 Webhosting 59.8 146.4 - 2.4x 45%
Daisy plc (2) Apr-08 Telecoms 2.9 91.0 - 38.2x 75%
Monument Jun-08 Financial services 4.3 1.8 - 0.4x (11%)
Verivox Dec-09 Energy price comparison 5.3 78.0 - 14.9x 72%
Broadstone Nov-10 Financial Services 34.2 6.3 0.6 (1) 0.2x (31%)
Emesa Mar-11 Online leisure 14.7 52.0 - 3.5x 109%
Intergenia Dec-11 Webhosting 30.4 55.0 - 1.8x 32%
Inspired Jul-13 Education 23.9 70.5 - 3.0x 36%
Total gross realised 181.1 516.2 0.6 2.9x 44%
Total gross portfolio 263.2 516.2 46.1 2.1x 37%
Net Returns 1.6x 20%
39
Disclaimer and Important Information
⚫ These presentation materials (the “Presentation”), which is confidential and may not be reproduced in whole or in part, nor may any of its contents be disclosed to any third party without the prior written consent of Oakley Capital Limited, is for information purposes only and is not an offer or invitation for subscription or purchase of or a recommendation of interests in Oakley Capital Investments Limited or any Oakley Capital Private Equity fund. Information contained in this Presentation is believed by Oakley Capital Limited to be accurate and correct, and statements of opinion in this Presentation are considered by Oakley Capital Limited to be reasonable, in each case at the date stated on this Presentation, but none of Oakley Capital Limited, Oakley Capital Investments Limited or any Oakley Capital Private Equity fund vehicle, any of the partners of such funds accepts responsibility for any such information, and all recipients of this Presentation are expressly warned of the requirement to carry out their own due diligence into any investment opportunity. Recipients should form their own assessment and take independent professional advice on the merits of investment and the legal, regulatory, tax and investment consequences and risks of doing so. Accordingly, except as required by law, none of any Oakley Capital Private Equity fund vehicle, any of the partners of such funds accepts any responsibility to any person for the consequences of any person placing reliance on the content of this Presentation for any purpose.
⚫ This document is only intended for the information of persons falling within articles 19 (investment professionals) or 49 (high net worth companies, partnerships, unincorporated associations and trusts) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended. The transmission of this document to any other person in the UK other than persons within the categories stated above is unauthorised and may contravene the Financial Services and Markets Act 2000 (“FSMA”). No person falling outside those categories should treat this Presentation as constituting a promotion to him, or act on it for any purposes whatever. Oakley Capital Limited, which is authorised and regulated by the Financial Conduct Authority, is not giving advice to any person in relation to the Presentation.
⚫ Past performance is not a reliable indicator or guarantee of future results.
⚫ Oakley Capital Investments Limited, a limited partner in Oakley Capital Private Equity LP and Oakley Capital Private Equity II and Oakley Capital Private Equity III, is a publicly traded company in the United Kingdom. Recipients of this Presentation are reminded that the information contained in this document, which may be deemed inside information, must be kept confidential and they agree to comply at all times with all applicable regulations (in the United Kingdom or elsewhere) including the Market Abuse Regulations relating to market abuse, insider trading and privileged information.