Oakley Capital Investments Limited
Oakley Capital Investments Limited (OCI) is a Bermuda-incorporated, closed-ended listed private equity investment company (Main Market, London Stock Exchange; FTSE 250 constituent from September 2025) that invests in private equity and venture funds managed by its Investment Adviser, Oakley Capital, which backs fast-growing, founder-led European businesses across Technology, Education, Consumer and Business Services. OCI also holds two legacy Direct Investments, North Sails and Time Out. The Company generates returns through NAV growth in its underlying fund investments and realisations, rather than trading revenue.
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 11 Mar 2026 · 214 pages · Company website
Oakley Capital Investments is a London-listed company that puts its money into private equity funds run by Oakley Capital, which back growing European businesses. It has no sales in the usual sense; it makes money when its investments rise in value. Profit after tax for 2025 was £58.6m, up from £26.9m the year before.
The report credits gains across its fund investments, including the sale of vLex at well above its previous valuation. Against that, its direct stake in Time Out lost £54m as Time Out's share price fell.
Cash at the year end was £95.2m, while borrowings rose to £226.4m from £105.6m. No new money was raised from shareholders. In March 2025 the company scrapped its dividend and instead spent £47.1m buying back its own shares. Management says it enters 2026 "with strong momentum". The auditor gave a clean opinion. The report notes it has promised a further £992m to Oakley funds over the coming years, and names being able to meet such promises as a key risk.
Unrealised and realised gains on Oakley Fund investments
Total income of £78.4m for FY25 comprised net realised gains £31.1m, net unrealised gains £43.3m and interest income £5.0m
page 181Shift of portfolio companies to recurring/subscription revenue models
Almost three-quarters of portfolio companies now benefit from largely, or partially, recurring revenues; Assured Data Protection c.100% recurring revenue with >60% ARR growth
page 18OCI enters 2026 as a FTSE 250 constituent with strong momentum and a compelling proposition for investors.
page 16In March 2025 the Board cancelled future dividends in favour of an annual recurring share buyback programme (minimum £20m, increased to £50m for 2025, completed 8 January 2026 via repurchase of 9.7m shares for £50m). OCI had paid a nominal dividend since 2016 despite not generating income sufficient to cover it; final FY2024 dividend of 2.25p (£3.9m) was paid in April 2025 and was the last dividend declared.
page 1911 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Every figure is read again from the following year’s report: 215 confirmed, 3 differ.
No figure has been restated: every figure a later report printed again, it printed the same.