Alumnus and Chair of Key Capital Partners delivers career insights talk
Mike Fell, Chair of Key Capital Partners (Key), visited the University of Liverpool’s Management School to share insights on career development, private equity and AI while also facilitating a student placement for hands-on industry experience.
As a prominent player in the smaller buy-out market, Key is one of the few private equity firms specialising in entrepreneurial businesses valued between £5m and £50m. With offices in Leeds and London, Key boasts one of the most experienced investment teams in the UK, providing national coverage. The firm has a strong track record of supporting high-growth SMEs through management buy-outs, equity release, and development capital deals.
Mike’s session at the Management School focused on the dos and don'ts of job applications and how students can leverage AI to stand out in today's competitive job market. His advice resonated with students, equipping them with the knowledge and skills needed to secure graduate roles successfully.
Justie Ejeta, an Accounting and Finance student, found the session particularly valuable, she said: “I now know how to make sure that my CV and cover letter are relevant to the role and company that I am applying to, and how to achieve this by doing research and tailoring them appropriately.”
Beyond his talk, Mike also facilitated a year-in-industry placement for Business Management student Oliver Jackson at Key Capital Partners, where he has been working as an Investment Analyst. This opportunity has given Oliver an in-depth look into the world of private equity. He said: “I’ve really enjoyed working with the team across Leeds and London, gaining a deeper understanding of private equity and how the fund operates. It’s been exciting to get involved with the portfolio companies, learning about their businesses, and exploring future investment opportunities."
Oliver Jackson
We spoke to Mike about his career journey, the inspiration behind Key Capital Partners and his advice for students navigating their early professional lives.
Mike Fell
What inspired you to set up Key Capital Partners LLP and what key experiences helped shape your journey?
Meeting new management teams and collaborating with them post a deal completion is my favourite part of the job. My role as managing director at Granville Baird Capital Partners prevented me from having this experience. I started KCP with likeminded individuals, Owen Trotter, and Peter Armitage. We wanted to focus on smaller deals, as this would allow us all to work alongside exciting entrepreneurs and founders and assist them grow their businesses.
Can you share a memorable experience from your career that had a significant impact on your professional growth?
There are numerous experiences which have impacted my career. I am a qualified Chartered Accountant, and it was only when I started working in private equity, did I really understand the importance of working capital. That is the interaction of cash, debtors, stock, and creditors. Strange as this may seem, the realisation of how these elements work together has allowed me to quickly grasp the financial position of all the businesses I have met. The importance of understanding working capital management is underrated.
The second notable sobering experience was when I had just started in the private equity industry. A hardnosed founder of a business asked me how I could assist him grow his business, I said I would join the board as a non- executive director. He cut me short and asked, ‘what experience do you have?’ I gave a standard reply about seeing a lot of businesses. He cut me short again and said – ‘so that is none then?’ I knew at the time he was right. This taught me a lot about over selling yourself and the need for less bravado when dealing with entrepreneurs and founders of businesses.
What qualities and skills do you look for in candidates when selecting interns for your company?
The two basic qualities are that a candidate needs to be a self- starter. What do I mean, by a self-starter. This is someone who takes initiative, is highly motivated, and can work independently without needing constant supervision or direction.
The second quality is that they want to learn and view an internship as a tool to broaden their experience and do not treat the time as a ‘box ticking’ exercise. Personal chemistry is always a factor, but the two discussed above are the most important.
Can you describe a successful internship experience at your company and what made it stand out?
We have only recently, due to our size, started using interns. The current intern Oliver Jackson has been a success. He has shown the qualities discussed above. In return he has gained considerable experience of the private equity world, more than most interns would, due to the size of the Key team.
What advice would you give to students who are unsure about their career direction and how to navigate their early professional lives?
This is a difficult question to answer. However, I strongly believe you must enjoy your job. Do not be forced into a career you do not like. As it will negatively impact all parts of your life.
If you have skills and like taking risks (and not good at the office politics) there is no more exciting journey than starting your own business with likeminded individuals. In hindsight, I wish I had started Key 10 years earlier than I did.
Selecting an appropriate employer you must choose a role you really like. Gain as much experience as you can, as this gives you more options during your career. I was told by a very successful businessman that if I made myself more valuable, that is by gaining more skills that were additive to the business such as learning a new language, taking and passing a relevant professional exam, it results in a better remuneration package. This is as relevant today as it was 45 years ago.
A huge thank you to Mike for his continued support and for sharing his valuable insights with students. If you'd like to volunteer at the University, find out how you can get involved here.