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In its FY’22 trading update, OCI reported i) net asset value (NAV) per share of 662p and NAV of £1,167m, ii) total NAV return per share of 24% (+128p), iii) investments of £269m and share of proceeds of £244m, iv) year-end cash and available debt of £210m, v) outstanding commitments of £929m (not all of which will be drawn over the next five years), and vi) the buyback and cancellation of 2.2m shares . Of the realised and unrealised portfolio value uplift in the year, 65% was driven by EBITDA growth, and 35% as a result of multiple expansion, driven primarily by exits. The largest contributions came from IU Group (strong growth in enrolments), Contabo (sale) and Primavera (strategic combination with Cegid).
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