# Nevada Public Employees' Retirement System

Nevada Public Employees' Retirement System is a Pension Fund based in Carson City, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Carson City, United States
- **Region:** North America
- **Address:** Carson City, NV, United States
- **Founded:** 1947
- **Assets under management:** Undisclosed
- **Website:** nvpers.org
- **LinkedIn:** linkedin.com/company/nvpebp

## Regulatory record

- **Reports private funds:** No

## About

Nevada Public Employees' Retirement System (NVPERS) was established in 1947 to provide retirement benefits for state workers. Executive Officer Tina Leiss oversees the system's administration from Carson City, while Chief Investment Officer Stephen Edmundson directs portfolio management. The organization functions as a public defined-benefit plan, pooling contributions from over 100,000 active members and retirees tied to Nevada state government, school districts, and local public agencies. The portfolio is constructed around a substantial allocation to private markets alongside public equities, fixed income, and real assets. Privately, the system concentrates heavily on buyout strategies across North America and Europe—backing large-cap and middle-market funds. Core public holdings sit in a U.S. Bond Index Portfolio and a dedicated Short-term Investments and Cash bucket. On the real assets side, NVPERS holds a direct Private Real Estate Portfolio composed of mixed-use properties within the United States. Governance sits with an independent Retirement Board chaired by Mark Stevens and vice-chaired by Brian Wallace. The investment staff participates in major public-pension networks including the National Association of State Retirement Administrators and the National Conference on Public Employee Retirement Systems. Executive Officer Leiss also maintains membership in the National Association of Public Pension Attorneys, reflecting the legal complexity of Nevada's statutory benefit framework. Structurally, NVPERS stands apart from pools that outsource their CIO function or lean on a single consultant. The internal team under Edmundson designs asset allocation and selects general partners directly, giving the board a close hand in pacing commitments—a posture more common among prominent Canadian and sovereign funds than among midsize American state plans.

## Sectors

- Buyout

## People

- Tina M. Leiss — Executive Officer
- Stephen J. Edmundson — Chief Investment Officer
- Mark Stevens — Chair of the Retirement Board
- Brian A. Wallace — Vice Chair of the Retirement Board

## Questions

### Who runs investment decisions at Nevada Public Employees' Retirement System?

Chief Investment Officer Stephen Edmundson leads the internal investment team. He reports to the Retirement Board, whose chair and vice chair are Mark Stevens and Brian Wallace. The board holds ultimate fiduciary authority over asset allocation and manager selection.

### How is NVPERS' private equity program structured?

The program is overwhelmingly oriented toward buyout funds. NVPERS commits capital to external general partners across large-cap and middle-market strategies, covering North America and Europe. The system does not operate as a direct investor; it acts as a limited partner in blind-pool funds.

### Does NVPERS invest outside the United States?

Yes. While the real estate portfolio is domestic, the private equity mandate stretches into Europe. Public market exposures also span developed and emerging international equities within the broader asset allocation.

### What is NVPERS' known posture on co-investments alongside external GPs?

The system focuses on primary fund commitments. Public documents do not indicate a dedicated co-investment program or a separate managed-account platform. Capital is deployed through traditional limited-partner agreements with fund managers.

### How are the investment and administrative functions separated at NVPERS?

Executive Officer Tina M. Leiss manages the administrative and benefit-administration side of the system, including legal and operational functions. Stephen Edmundson runs the investment office. Both ultimately report to the independent Retirement Board.

### What peer networks does the NVPERS investment team participate in?

The system and its executives engage with the National Association of State Retirement Administrators (NASRA), the National Conference on Public Employee Retirement Systems (NCPERS), and the National Council on Teacher Retirement (NCTR). Leiss is also a member of the National Association of Public Pension Attorneys (NAPPA).

### What is the rough size of the NVPERS portfolio?

Recent comprehensive annual financial reports place total assets near $63 billion. That figure moves with market returns and contribution flows. An exact, current-quarter number is only available through the system's official published financials.

## Related profiles

- [Nevada Capital Investment Corporation (NCIC)](https://altss.com/profile/nevada-capital-investment-corporation-ncic)
- [Nevada State Treasurers' Office](https://altss.com/profile/nevada-state-treasurers-office)

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Last updated: 2026-06-03T20:00:00.000Z

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