Kodak Disbands Team Managing $4 Billion Pension Investments (1)

Eastman Kodak Co. is disbanding a team that manages the firm’s $4 billion of pension investments, according to people with knowledge of the matter.

The former giant of the photography world, which now also focuses on manufacturing advanced materials and chemicals, has begun notifying its investment managers that it’s shifting oversight of the pension program to Boston-based NEPC, said the people, all of whom requested anonymity to discuss confidential information.

Kodak Tower in Rochester, New York

Photographer: Mike Bradley/Bloomberg

The move is being driven by the fact that the pension system is overfunded, according to the people. The overfunded status has soared from just over $100 million at ...