The £2.5bn UK bank-backed Business Growth Fund has recruited a small buyout specialist from Glasgow-based private equity firm Maven Capital Partners to up the ante in its Bristol office, as macroeconomic conditions continue to impact the fund’s activity.

The BGF, incorporated in February 2011 to boost investment in UK SMEs, has recruited Ned Dorbin as senior investment manager to its Bristol office, bringing its nationwide investment team to 51, many of which were hired from private equity firms.