David Kent, non-executive chairman of Everest Financial Group, has stepped down from the post.

Once the executive chairman of the hedge fund manager, formerly named Everest Babcock & Brown, Kent will aim to find work as an investment committee member of a superannuation fund while maintaining positions including non-executive director of Stockland Capital Partners and board member of a private foundation.  

Kent said that he would pursue “investment committee-type work for super funds that want to increase their exposure to alternatives”.

He was executive chairman of Everest Babcock & Brown until becoming non-executive chairman in June 2008 and, after joining the executive committee of the Australian chapter of the Alternative Investment Management Association in early 2007, stepped down from this position in December 2008.

The Everest Babcock & Brown Alternative Investment Trust was the subject of widely-chronicled activism predominantly carried out by three offshore hedge funds: Laxey Partners, Carousel Capital and Weiss Capital. Last week, Laxey secured management rights to the vehicle.  

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