Time Out mag owner boosts asset values
TIME Out magazine co-owner Oakley Capital yesterday said its listed fund vehicle rose nine per cent in value last year close to £250m.
The business, which is set to welcome top fund manager Neil Woodford to the firm in May, said the net asset value (Nav) of its funds will be between £245m and £247m at the end of December.
This will give a Nav per share of £1.98 to £2 – a nine per cent rise from £1.81 per share last year.
The successful exit from four of its portfolio companies also helped make £33m for the company. This represents a gross average multiple of 2.8 times.
Director Peter Dubens, who famously bought Vans trainers to the UK, said: “2014 has started strongly with an interesting pipeline of proprietary investment opportunities under consideration.”