Oakley Capital Investments Ltd on Friday said its direct shareholding in London-based publisher and food markets operator Time Out Group PLC has increased as a result of a transfer of shares.

The Bermuda-based firm, which provides access to private equity investments of Oakley funds, said Fund I has transferred its shares in Time Out in-specie to its investors.

As a result, OCI’s direct stake in Time Out has risen to 38.06% from 19.97%. This represents a total of 5.8% of OCI’s net asset value at September 30, it said.

The ownership of the members of the Oakley concert party, which includes OCI, has reduced to 41.9% from 45.3% following the transfer, however.

OCI noted that Time Out’s prospects ‘remain attractive’.

Shares in OCI were down 0.5% at 493.00 pence each in London on Friday morning, while Time Out shares were untraded at 53.15p each.

Time Out shares are up 42% in the past year, though down 22% over the past five years.

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