Wyoming Permanent Mineral Trust Fund

Overview

that manages globally diversified portfolios of public and private assets for about 50 major institutional investors.¹

Wyoming Permanent Mineral Trust Fund's investment capital supports sovereign or public-sector financial objectives.²

Estimated AUM: $13.4B as of May 31, 2026³
Capital pool: state permanent/stabilization fund (mineral severance tax revenue trust)²
Investment model: Not listed yet²
Investment approach: He spent the past 15 years at the Oregon Treasury, overseeing risk management, asset allocation and research across more than $140 billion in assets and over a dozen investment pools, including $95 billion in public retirement assets.⁴
Spending support: Not listed yet
Spending policy: Not listed yet
Asset allocation: Public evidence references these asset classes or allocation areas: private equity, venture capital, hedge funds, real estate, public markets, fixed income.⁴
Performance: Not listed yet
Governance: He serves on the board of directors of the Community Foundation of Jackson Hole, where he is chair of the audit committee and a member of the investment and finance committees.²
Investment team: Karl Cheng STATE TREASURER CIO EX-OFFICIO IFC Member Biography Cheng joins Wyoming from the Oregon State Treasury, where he has served as Head of Portfolio Risk and Research.²
Unfunded commitments: Not listed yet
Source freshness: Last verified Jul 21, 2026 · Needs review

Last verified Jul 21, 2026 from public career and organization materials.

Website (statetreasurer.wyo.gov)Parent organization overview · checked Jul 25, 2026
Website (statetreasurer.wyo.gov)Pool purpose, Capital pool, Investment model, Governance, Investment team · checked Jul 25, 2026
Website (statetreasurer.wyo.gov)Estimated AUM · checked Jul 25, 2026
Website (statetreasurer.wyo.gov)Investment approach, Asset allocation, Investment office page · checked Jul 25, 2026