# 21st Century Fox America Master Trust

21st Century Fox America Master Trust is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** 21cf.com
- **LinkedIn:** https://www.linkedin.com/company/21st-century-fox-america-inc.

## Regulatory record

- **Reports private funds:** No

## About

The 21st Century Fox America Master Trust was established in 2018 as a corporate pension master trust, consolidating employee benefit liabilities including the Pension Plan for Union Employees of 21st Century Fox America. It emerged following The Walt Disney Company's acquisition of 21st Century Fox's entertainment assets, leaving behind a legacy balance sheet and associated pension obligations. The trust functions under ERISA jurisdiction from its New York headquarters. The strategy centers on private credit and real estate allocations. The trust frequently participates in credit facilities and debt instruments managed by Guggenheim Partners, where Senior Managing Director Anne B. Walsh serves as the primary signatory. Co-investors in these credit agreements include the Intel Corporation Retirement Plans Master Trust, Chevron Master Pension Trust, and Verger Capital Fund LLC. On the real estate side, the portfolio spans residential and mixed-use properties across the United States, including multifamily assets in Atlanta, Wilmington, and St. Augustine, a hotel property in Nashville, and a mixed-use development in Venice, California. Real estate holdings appear direct, while credit exposure flows primarily through Guggenheim-managed structures — a setup that blurs the line between a passive pension allocator and an active co-investment platform. The trust does not publicly maintain a dedicated website, and its activities surface primarily through regulatory filings and co-investment transaction records. The structural differentiator is its quasi-outsourced investment office model. Rather than building a large internal investment team, the trust relies heavily on Guggenheim for credit sourcing and execution, while maintaining direct ownership of geographically dispersed real estate assets. This creates a hybrid architecture: a pension fund governed by ERISA that operates with the discretion and concentration of a single-family office's balance sheet.

## Sectors

- Real Estate
- Private Credit

## People

- Anne B. Walsh — Senior Managing Director, Guggenheim Partners (primary signatory for the trust)

## Questions

### Who runs investment decisions for the trust?

Anne B. Walsh, a Senior Managing Director at Guggenheim Partners, functions as the primary signatory and key investment decision-maker for the trust. The trust does not appear to maintain a large internal investment committee, instead operating through a heavily outsourced model centered on Guggenheim's credit platform.

### How is the trust related to the Walt Disney Company?

The trust holds pension obligations that belonged to 21st Century Fox prior to Disney's acquisition of Fox's entertainment assets in 2019. The Disney transaction did not include these legacy pension liabilities, which remained with the post-deal Fox entity and were consolidated into this master trust under ERISA.

### What is the trust's investment mix?

The portfolio is concentrated in two areas: private credit facilities managed by Guggenheim Partners, and direct real estate holdings across US markets. Known real assets include multifamily apartments in Georgia, Delaware, and Florida, a Nashville hotel, and mixed-use property in Venice, California. No public equity positions are publicly documented at material scale.

### Does the trust invest alongside other pension funds?

Yes. The trust has been documented as a co-investor in credit agreements alongside the Intel Corporation Retirement Plans Master Trust, Chevron Master Pension Trust, and Verger Capital Fund LLC. These relationships suggest a recurring syndicate of large corporate pension plans accessing Guggenheim-managed debt facilities.

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Last updated: 2026-08-11T02:43:31.692Z

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