Kodak Sells PE Assets to Mastercard, Mulls Shuttering Pension

The board of Eastman Kodak’s pension plan sold a portfolio of illiquid assets to the Mastercard Foundation and is considering winding down the rest of the fund, as the company looks to tap the roughly $1 billion surplus it built up over the years.

The pension plan’s board instructed the committee that manages assets for the fund to start positioning it for a potential sale, according to a regulatory filing on Wednesday, but at the time the decision wasn’t final.

The plan has also agreed to sell private equity ownership interests and other illiquid assets valued at $764.4 million ...