LONDON: Oakley Capital Investments Ltd. on Thursday reported a net asset value of £1.23 billion for the year ended Dec. 31, 2025, as the investment company highlighted its positioning to benefit from artificial intelligence adoption.
The company’s net asset value per share stood at 738 pence, delivering a total NAV return of 6%, or 45 pence per share. Total shareholder return for the year reached 15%.
Oakley Capital Investments, which trades on the Main Market of the London Stock Exchange and is a FTSE 250 constituent, provides exposure to private equity returns through investments in funds managed by Oakley Capital. The portfolio focuses on unquoted, profitable pan-European businesses across technology, education, consumer and business services sectors.
Approximately 90% of the valuation gains were driven by earnings growth, with average portfolio company earnings before interest, taxes, depreciation and amortization growing 11% over the last 12 months.
Clio contributed 33 pence to NAV following the realization of vLex, which generated a gross return of more than six times invested capital. Phenna Group added 23 pence, driven by demand for testing and inspection services, while TechInsights contributed 13 pence as the artificial intelligence boom boosted demand for its chip intelligence platform.
Time Out Group subtracted 32 pence following a share price decline related to headwinds in its media business and a discounted share issuance.
The company made £197 million in look-through investments during the year, equivalent to 16% of NAV. New platform deals totaled £96 million across 10 investments including Brevo, Infravadis, G3 and NOX. Follow-on investments reached £79 million, and venture investments totaled £22 million.
Proceeds from exits and refinancings reached £92 million, including £57 million from realizations such as the vLex sale and £35 million from refinancings.
The company completed its £50 million share buyback program Jan. 8, enhancing NAV per share by 11 pence over the course of the program. A new program with a minimum of £20 million has commenced for 2026.
Oakley Capital Investments made a €500 million commitment to Oakley Capital Fund VI, bringing total outstanding commitments to £992 million, of which approximately £300 million is not expected to be called. The capital is slated for investment over the next five years.
Liquidity stood at £191 million, comprising £95 million in cash and £96 million in undrawn credit facilities.
The company completed its transfer to the Main Market during the year, resulting in FTSE 250 index inclusion.
Christopher Samuel has been appointed chair, effective March 13, with Kiernan Bell joining as independent non-executive director.
“Despite a challenging economic environment in 2025, the portfolio continued to generate solid earnings growth and deliver successful exits,” Interim Chair Steve Pearce said in a statement.
Peter Dubens, managing partner of Oakley Capital, noted that historically, some of the strongest-performing private equity vintages have been deployed during periods of uncertainty.
The company said approximately two-thirds of the portfolio’s value is underpinned by businesses relying on physical delivery or tangible products, including technology infrastructure, field-based business services, luxury brands, sports and education. The remaining third delivers products and services digitally, where the company sees AI presenting opportunities to improve efficiency.