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Market Street Trust Company
Market Street Trust Company traces its roots to 1909 and the Houghton family of Corning, New York. The firm began as a vehicle to manage wealth generated by...
Market Street Trust Company
Market Street Trust Company traces its roots to 1909 and the Houghton family of Corning, New York. The firm began as a vehicle to manage wealth generated by Corning Incorporated's glass manufacturing business and later expanded to serve additional families while retaining client ownership of the platform. The firm allocates across private equity, private credit, hedge funds, real estate, and philanthropic vehicles. It maintains confirmed exposure to fund-of-funds structures and indicated interest in direct co-investments and SPVs. Geographic reach centers on North America with holdings that include positions in Corning Incorporated and properties in New York. Confirmed positions include long equity in GLW and MET alongside real estate assets such as 80 East Market Street in Corning. The firm employs integrated services that combine investment management, tax, trustee, and estate planning. It maintains membership in The Family Wealth Alliance and The UHNW Institute. In October 2025 Kara Pass spoke at the launch of Game On in Greenwich, Connecticut. Client ownership distinguishes the structure from typical multi-family offices. Families retain direct control while the firm provides administrative and investment functions under a shared platform model.
General information
Firm type
Multi Family Office
Year founded
1909
AUM
$3.75 billion (Altss estimate)
Location
Region
North America
Country
United States
City
Indianapolis
Corporate office
2 International Drive Suite 301, Portsmouth, NH 03801, United States
Principals
Kara Pass
President & CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Market Street Trust Company?
Kara Pass serves as President and CEO. Investment decisions follow a long-term mandate centered on fund commitments and manager selection.
How does Market Street Trust Company source proprietary deal flow?
The firm relies on relationships developed through The Family Wealth Alliance and The UHNW Institute. It also draws on historic ties to the Houghton family and Corning Incorporated.
Is Market Street Trust Company structured as a single family office or does it operate more like a venture firm?
It operates as a multi-family office that evolved from a single-family platform. The structure remains client-owned and focuses on wealth preservation rather than venture origination.
Does Market Street Trust Company participate in fund commitments or only direct deals?
Confirmed allocations include fund-of-funds, hedge funds, and private equity commitments. Direct co-investments remain indicated rather than confirmed.
Where does the underlying wealth come from?
The firm originated to manage Houghton family holdings tied to Corning Incorporated glass manufacturing. It now serves multiple families under the same platform.
Does Market Street Trust Company maintain philanthropic structures, and how are they separated?
The Triangle Fund, established in 1993, supports youth programs in Chemung, Schuyler, and Steuben counties. It operates as a separate Houghton family foundation.
What is Market Street Trust Company's known posture on co-investments alongside external GPs?
The firm prefers experienced managers through fund structures. Direct co-investments are considered only when opportunities align with existing values and risk parameters.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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