It is one hundred days into perhaps the most pivotal year for the paterfamilias of UK private equity. 3i Group’s share price has tumbled 63% over the 12 months to 8 April, wiping £2.1bn (€2.3bn) from its market capitalisation.

There have been changes in the upper echelons of the management team too, with Michael Queen stepping into the shoes of Philip Yea as chief executive at the start of the year.