Level 20, a campaign group set up to increase the number of women working in private equity, is on the hunt for its first chief executive after securing financial backing from a host of private equity firms including CVC Capital Partners and Charterhouse Capital Partners.

The group, which was founded in September 2015 by a group of senior industry women, is seeking a CEO to broaden its mentoring and networking programme, according to a statement. Women are severely under-represented at all levels of private equity, making up just 5% of senior roles at European firms, according to figures from the group.