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Oakley Capital holds €195m first close for second fund

7 Oct 2013

euro_note_170sqUK private equity firm Oakley Capital has held a first close of €195m for its second fund.

Oakley Capital Private Equity II-B is expected to hit its €500m target by the end of next year, said Dow Jones, citing a person familiar with the situation.

Documents filed with the US Securities and Exchange Commission showed that the fund had raised the money from eight LPs.

Palmer Capital serves as placement agent for the fund, the filing showed.

In July Oakley revealed that its net asset value increased at least 11 per cent in the year to end June and was expected to be in the range of £1.93 to £1.95 per share.

The firm said that the limited partnership has so far made four exits, achieving a return multiple of 2.6 times and an IRR 43 per cent.

In May this year oakley exited Headland Media for an enterprise value of £15.5m, making a return of 2.7 times.

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