Eastman Kodak's pension plan board has recently sold a portfolio of illiquid assets to the Mastercard Foundation. This sale is part of a larger strategy to access a surplus of around $1 billion that has been accumulated over the years.

The board has instructed the asset management committee to begin preparing for a potential sale of the remaining fund assets, although a final decision on this matter has not yet been made. This decision comes as Kodak evaluates its financial position and considers the future of its pension obligations.

The sale to the Mastercard Foundation is a significant step in Kodak's efforts to streamline its financial commitments and optimize its asset management strategy.