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Investment Trust Insider: As LBOs return Oakley is the pick of pre-crash PE
by James Carthew on Feb 19, 2013 at 00:01
Broadstone has been trimming costs and making a couple of bolt-on acquisitions. It was loss-making at Oakley’s H1 stage.
Otherwise, there is not much I can glean on Intergenia, and the other investments are probably too small to make a material difference. They have just made one large disposal however, selling Emesa, which added circa 3% to the NAV. The original LP still has a while to run and Oakley has undrawn commitments of £52 million. In October 2010, Oakley also made £100 million of commitments to a successor fund but none of this has been called to date.
In the short term, the main attraction seems to be the discount but it will be interesting to see how Time Out is faring when Oakley reports in April.
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