UK venture philanthropy firm Impetus Trust, has hired the managing partner and co-founder of private equity firm Palamon Capital Partners, as its new chairman.

Louis Elson replaces Impetus co-founder Stephen Dawson, who announced his intention to step down in June 2009, after serving as chairman for seven years. Elson has been a trustee of Impetus since July 2009, and will officially become Impetus Chairman in March. He will continue in his role at Palamon as usual.