Exclusive: Rainmaker leaves Oakley Capital(2)

Del Huse has set up its own investment firm targeting deal by deal opportunities for high net worth individuals

Oakley Capital Private Equity, the fund advised by AIM-listed Oakley Capital Investments, has lost one of its deal makers, PEI has learnt.

Del Huse left the UK-based firm by the end of 2014, according to a source familiar with the matter. Oakley confirmed his departure and said he left “following a 6 month period of winding down his responsibilities” with the firm.

“He is in the process of establishing his own business, [under the brand name Roycian, that will source and execute direct deals for high net worths, family offices and funds] and we will have an ongoing relationship with him. He was not a named, key man in the fund documentation but nevertheless, LPs were informed some time ago of his intention to leave Oakley. We wish Del well with his new business,” a spokesperson told PEI.

At Oakely, Huse, a managing director, was responsible for finding new investments in the UK and Western Europe. He joined the firm in 2010 from UK-based turnaround house Endless, where he was a managing director.

Roycian will be doing deal by deal investments in the lower mid-market, Huse confirmed to PEI. The firm, which will be UK-centric, will also look deals in Western Europe and the Middle East, he said. The firm will be sector-agnostic. The rewards will be exclusively carry-based.

Huse’s departure comes as Oakley is currently investing its second fund, OCPE II Master, which had a €500 million target. Oakley Capital Investments Limited (OCIL), a vehicle listed on London’s Alternative Investment Market designed to give retail investors access to Oakley’s limited partnership funds, has invested €200 million in the fund, according to a regulatory filing.

Oakley has raised approximately €497 million for fund II, PEI reported last September.

To date, Oakley has done four deals from its second vehicle including a majority investment in Facile.it, Italy’s largest car insurance broker and price comparison website. It also $65 million of equity from Fund II into Connecticut-based marine technology company North Technology Group last March.

Oakley typically invests in companies with enterprise values between €40 million and €150 million, with a targeted equity investment size of between €20 million and €60 million, according to its website.