An inspirational economics teacher describing the work of one of the early parts of 3i Group was what motivated Wol Kolade to pursue a career in private equity. The teacher told the class how it bought and sold small businesses and tried to change them, which struck a chord with the pupil.

"I still don't know why but it just resonated with me and I thought that sounds like a lot of fun," explained Kolade, sitting in the firm's offices near London's St Paul's Cathedral. Even at that young age, he says he wanted to be part of the world of private equity, although he adds: "I quickly learnt to keep it to myself as it made no sense in many respects."