It is hard to think of anything less politically correct than a private equity firm hosting a men-only shopping evening for clients in a sexy lingerie store. Particularly when the buyout firm in question is chaired by a woman, and the event was due to be held in the same week the UK Minister for Equality warned City of London banks to get their act together on gender equality.

So it is perhaps not surprising that 3i, the firm in question, was forced last week to cancel its proposed pre-Valentine's Day soirée at Agent Provocateur, the upmarket lingerie retailer which it owns.