SCOTTISH Equity Partners’ (SEP) boss Calum Paterson is to chair the body which represents the UK private equity and venture capital industry.

Mr Paterson, who co-founded SEP in 2000, will serve as chairman of the British Private Equity and Venture Capital Association (BVCA) for 2018/19.

He said:“I am very pleased to take on the role of BVCA chair, particularly at this important time for the industry and for the UK economy.

“Private equity and venture capital plays a vital role in the UK, not least in terms of supporting the growth of innovative companies.

"I look forward to supporting the BVCA in representing and promoting the entire industry, across the whole country.”

The BVCA has more than 700 members, including around 300 fund managers and 120 institutional investors.