Mastercard Foundation enters secondary market with mega LP-led deal

Across separate year-end closings, The Mastercard Foundation Asset Management Corp. (“MFAM”), acting on behalf of Mastercard Foundation, completed one of the biggest purchases in the private funds secondaries market in 2024.

According to filings with the U.S. Securities and Exchange commission, pursuant to a purchase and sale agreement, dated November 20, 2024, MFAM acquired private equity ownership interests and certain other illiquid assets held by Kodak Retirement Income Plan Trust in its capacity as holder of assets for the benefit of the Kodak Retirement Income Plan, valued at US$752.8 million, for US$540.6 million.

The deal marks MFAM’s first investment in the private funds secondaries market.

Further information can be found on bnnbloomberg.ca and on nasdaq.com.

MFAM is a separate asset management company with a mandate to build and manage a diversified investment portfolio for the Mastercard Foundation. Its mission is to deliver long-term investment returns to support the mission of the Mastercard Foundation – one of the largest foundations in the world.

Kodak Retirement Income Plan Trust is the holder of assets for the benefit of the Kodak Retirement Income Plan, the pension plan arm of Eastman Kodak Company – a global technology company providing industry-leading products and services for commercial print, packaging, publishing, manufacturing and entertainment.