Europe’s private equity trade body has lined up its next chairman as it enters the final stage of lobbying against controversial proposals in the Alternative Investment Fund Managers directive - opting for a figurehead based at the heart of the battle in Brussels.

Karsten Langer, a European partner at US-based mid-market firm Riverside Company, is taking on the chairman role at the European Private Equity and Venture Capital Association. He is set to take over from Uli Fricke, founder of Triangle Venture Capital Group, who made the announcement last night.