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Kodak Pension Plan To Shuffle Mandates
Imaging and photographic materials and equipment maker Eastman Kodak’s pension plan intends to change fund managers to revamp the $4.7 billion U.S. component of its $7 billion global portfolio.
Imaging and photographic materials and equipment makerEastman Kodak’s pension plan intends to change fund managers to revamp the $4.7 billion U.S. component of its $7 billion global portfolio,Hedge Fund Alertreports. The plan intends to redeem investments in five hedge funds and put the proceeds into vehicles run by three other hedge fund managers and a mutual fund operator.
The pension plan will be shifting money to funds run by New York-basedScout CapitalandSelect Equity, San Francisco–basedPassport CapitalandTradewinds Global Investorsof Los Angeles. Kodak’s retirement plan will be putting money into the all-cap fund of Tradewinds Global, a $39 billion arm of mutual-fund majorNuveen Investments.
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