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, Hedge Fund Alert reports. 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-based Scout Capital and Select Equity, San Francisco–based Passport Capital and Tradewinds Global Investors of 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 major Nuveen Investments.
Click here for the story from Hedge Fund Alert.
