Key People
The Team
Our personality is down-to-earth and direct. We’re smart, ambitious, confident and successful but unpretentious and fundamentally decent. We’re definitely someone you want on your side.
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
James Excell
Partner
James Excell
Partner
james.excell@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
After James’ boyhood dreams of playing professional sport failed to materialise, he did the next best thing and became an Accountant. Prior to Key, James spent the best part of a decade supporting small and medium sized businesses through turnarounds, restructurings, acquisitions and disposals. Despite the accumulating airmiles, a life in consulting was not for James and he joined the team in 2016.
Ellie Nicholls
Investment Manager
Ellie Nicholls
Investment Manager
ellie.nicholls@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
Ellie began her career as an economic researcher for government statistics, but in search of some more exciting chat, she made the move into the private sector. Before joining Key in 2025, Ellie built her expertise in Transaction Services, working with small and medium-sized businesses across the South region. When she’s not busy making deals happen, you’ll find Ellie training for her next endurance event or hosting dinner parties for friends – finally with a conversation starter that doesn’t involve government statistics!
Laura Howes
Finance & Operations Director
Laura Howes
Finance & Operations Director
laura.howes@keycapitalpartners.co.uk
0113 426 4116
Leeds
13 Park Place
Leeds
LS1 2SJ
Having spent 8 years in Corporate Finance before joining Key, Laura originally joined the firm to lead origination efforts and is now in charge of all things finance and operations. When she’s not managing the purse strings of the firm, you can guarantee Laura will either be doing something creative such as whipping up a fancy dress outfit or planning her next trip to her beloved Valencia!
Matt Tice
Director
Matt Tice
Director
matt.tice@keycapitalpartners.co.uk
0113 426 4115
Leeds
13 Park Place
Leeds
LS1 2SJ
Matt is a corporate financier turned private equity investor, joining the Leeds team in 2018. Rumour has it that Matt has never turned down an invitation for a beer so is a great contact to have on your networking list. Whilst his hometown football club AFC Rushden & Diamonds doesn’t always deliver, Matt has completed several of Key’s successful current and realised investments over the past 7 years.
Mike Fell
Chairman
Mike Fell
Chairman
mike.fell@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
After 35 years working in private equity Mike wonders if he’s seen it all, but the truth is no one day is the same. He can’t believe he is still learning on the job. Mike is at his best working with business owners and management teams. Mike co-founded Key Capital in 2007.
Philip Duquenoy
Partner
Philip Duquenoy
Partner
philip.duquenoy@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
Unlike most of the Key team, Phil has actually had a real job. After an early career as an investor, Phil joined the management team of a pharmaceutical services business which received private equity investment, successfully grew and was sold to a trade player. After a few years sampling wines and bike tracks in Normandy, Phil re-joined the investment world and the Key team in 2012. Into music or guitars? Phil is the man to speak to.
David Cameron
Investment Manager
David Cameron
Investment Manager
david.cameron@keycapitalpartners.co.uk
01134264110
Leeds
13 Park Place
Leeds
LS1 2SJ
David spent his first five years in finance qualifying as a chartered accountant with the EY Strategy & Transactions team. There he worked on everything from distressed lender situations to corporate advisory projects and fast-track sale processes. Before crunching numbers, though, David was tearing up the slopes as a member of the GB junior Ski Cross team. These days, he’s swapped his skis for a pint in one of Leeds' many pubs and a season ticket for his beloved Coventry City – always cheering them on, whether home or away
Kay Fox Joyce
Marketing Manager
Kay Fox Joyce
Marketing Manager
kay.foxjoyce@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
As Marketing Manager at Key Capital Partners, Kay is responsible for communicating how Key Capital Partners collaborates with UK-based businesses. Kay plays a crucial role in raising the profile of the brand to attract ambitious entrepreneurs and successful business owners, helping them understand the unique value and support Key Capital Partners provides. With a dynamic career spanning advertising and marketing in B2B media and agencies, Kay brings a diverse perspective to her role. And, for a decade, she even traded boardrooms for street food, building a successful catering business with her iconic H van – proving her entrepreneurial spirit extends well beyond traditional marketing!
Becci Calvert
Office Administrator
Becci Calvert
Office Administrator
becci.calvert@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
Becci has been providing administrative support in various sectors for around 13 years. She likes to make sure a job is done properly and loves a challenge. She is definitely a “people person” and enjoys helping others wherever she can! Outside of the office, Becci is a mum who loves nothing more than spending time with her family, and dreaming about her next trip to Disney!
Owen Trotter
Investment Committee Chair
Owen Trotter
Investment Committee Chair
owen.trotter@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
A co-founder of Key in 2007, Owen has now stepped back from the day-to-day but remains an investment committee member (and a dedicated Lincoln City FC fan).
James Hall
Managing Partner
James Hall
Managing Partner
james.hall@keycapitalpartners.co.uk
0113 426 4113
Leeds
13 Park Place
Leeds
LS1 2SJ
James brings with him a wealth of private equity experience, having seemingly started in PE before even finishing school. A staunch Yorkshire man (who did once venture over to the other side of the Pennines earlier in his career), James’ passion for business (and bikes…and football) is second to none. As Managing Partner, James leads our business and is as keen as ever to do his best for owner managed businesses.
James Excell
Partner
James Excell
Partner
james.excell@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
After James’ boyhood dreams of playing professional sport failed to materialise, he did the next best thing and became an Accountant. Prior to Key, James spent the best part of a decade supporting small and medium sized businesses through turnarounds, restructurings, acquisitions and disposals. Despite the accumulating airmiles, a life in consulting was not for James and he joined the team in 2016.
Ellie Nicholls
Investment Manager
Ellie Nicholls
Investment Manager
ellie.nicholls@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
Ellie began her career as an economic researcher for government statistics, but in search of some more exciting chat, she made the move into the private sector. Before joining Key in 2025, Ellie built her expertise in Transaction Services, working with small and medium-sized businesses across the South region. When she’s not busy making deals happen, you’ll find Ellie training for her next endurance event or hosting dinner parties for friends – finally with a conversation starter that doesn’t involve government statistics!
Laura Howes
Finance & Operations Director
Laura Howes
Finance & Operations Director
laura.howes@keycapitalpartners.co.uk
0113 426 4116
Leeds
13 Park Place
Leeds
LS1 2SJ
Having spent 8 years in Corporate Finance before joining Key, Laura originally joined the firm to lead origination efforts and is now in charge of all things finance and operations. When she’s not managing the purse strings of the firm, you can guarantee Laura will either be doing something creative such as whipping up a fancy dress outfit or planning her next trip to her beloved Valencia!
Matt Tice
Director
Matt Tice
Director
matt.tice@keycapitalpartners.co.uk
0113 426 4115
Leeds
13 Park Place
Leeds
LS1 2SJ
Matt is a corporate financier turned private equity investor, joining the Leeds team in 2018. Rumour has it that Matt has never turned down an invitation for a beer so is a great contact to have on your networking list. Whilst his hometown football club AFC Rushden & Diamonds doesn’t always deliver, Matt has completed several of Key’s successful current and realised investments over the past 7 years.
Mike Fell
Chairman
Mike Fell
Chairman
mike.fell@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
After 35 years working in private equity Mike wonders if he’s seen it all, but the truth is no one day is the same. He can’t believe he is still learning on the job. Mike is at his best working with business owners and management teams. Mike co-founded Key Capital in 2007.
Philip Duquenoy
Partner
Philip Duquenoy
Partner
philip.duquenoy@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
Unlike most of the Key team, Phil has actually had a real job. After an early career as an investor, Phil joined the management team of a pharmaceutical services business which received private equity investment, successfully grew and was sold to a trade player. After a few years sampling wines and bike tracks in Normandy, Phil re-joined the investment world and the Key team in 2012. Into music or guitars? Phil is the man to speak to.
David Cameron
Investment Manager
David Cameron
Investment Manager
david.cameron@keycapitalpartners.co.uk
01134264110
Leeds
13 Park Place
Leeds
LS1 2SJ
David spent his first five years in finance qualifying as a chartered accountant with the EY Strategy & Transactions team. There he worked on everything from distressed lender situations to corporate advisory projects and fast-track sale processes. Before crunching numbers, though, David was tearing up the slopes as a member of the GB junior Ski Cross team. These days, he’s swapped his skis for a pint in one of Leeds' many pubs and a season ticket for his beloved Coventry City – always cheering them on, whether home or away
Kay Fox Joyce
Marketing Manager
Kay Fox Joyce
Marketing Manager
kay.foxjoyce@keycapitalpartners.co.uk
0203 334 9811
London
Capital Tower
91 Waterloo RoadLondon
SE1 8RT
As Marketing Manager at Key Capital Partners, Kay is responsible for communicating how Key Capital Partners collaborates with UK-based businesses. Kay plays a crucial role in raising the profile of the brand to attract ambitious entrepreneurs and successful business owners, helping them understand the unique value and support Key Capital Partners provides. With a dynamic career spanning advertising and marketing in B2B media and agencies, Kay brings a diverse perspective to her role. And, for a decade, she even traded boardrooms for street food, building a successful catering business with her iconic H van – proving her entrepreneurial spirit extends well beyond traditional marketing!
Becci Calvert
Office Administrator
Becci Calvert
Office Administrator
becci.calvert@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
Becci has been providing administrative support in various sectors for around 13 years. She likes to make sure a job is done properly and loves a challenge. She is definitely a “people person” and enjoys helping others wherever she can! Outside of the office, Becci is a mum who loves nothing more than spending time with her family, and dreaming about her next trip to Disney!
Owen Trotter
Investment Committee Chair
Owen Trotter
Investment Committee Chair
owen.trotter@keycapitalpartners.co.uk
0113 426 4110
Leeds
13 Park Place
Leeds
LS1 2SJ
A co-founder of Key in 2007, Owen has now stepped back from the day-to-day but remains an investment committee member (and a dedicated Lincoln City FC fan).