Launch of Oakley Services No.3 PCC

Following on from the excellent progress made in February, which saw key appointments made in Oakley Services No.1 and No.2 PCCs alongside a significant capital raising, a similarly exercise was completed in March for Oakley Services No.3 PCC.

After another extensive search and selection process, the company offered investment executive positions to 8 individuals, each of whom demonstrated the necessary breadth of experience to contribute successfully to the business. In tandem with these appointments, the company secured additional funding of £21.8m to support its investment evaluation and sourcing activities.

Through it existing clients relationships, Oakley Services No. 3 PCC shortly thereafter placed a portfolio of 16 structured notes with a nominal value of £20.2m. The notes incorporated exposure to US and Japanese equity indices together with currency via Sterling versus Euro. Once again, credit risk associated with each of the notes is through Schroder & Co.

It is the intention of the Directors that this portfolio together with the other trades undertaken over the past month or so be allowed a few months to bed down before considering further potential investment opportunities for recommendation.

For further details please contact nick.astaire@oakleyservicesno1.com.