Nevada State Treasurers' Office

Private equity exposure flows through the Nevada Capital Investment Corporation (NCIC), a non-profit corporation overseen by the Treasurer's office. NCIC makes fund commitments and direct co-investments, with a statutory focus on managers and companies located in or willing to establish a presence in Nevada. The Silver State Opportunities Fund, managed by Hamilton Lane, serves as a separate vehicle for Nevada-focused private capital deployment.

Yes. The State Infrastructure Bank finances transportation, utility, and municipal projects within Nevada. Separately, the office has made direct affordable housing investments, including the West Henderson Affordable Apartments and the Nellis Grove Affordable Housing project in Clark County, reflecting a dual mandate of return generation and residential development.

The office manages the Governor Guinn Millennium Scholarship Trust Fund, which supports Nevada high school graduates attending in-state colleges, and the broader Educational Trust Fund. These portfolios are invested alongside the state's general cash and unclaimed property pools, with asset allocation decisions made by the investment staff under the Treasurer's authority.

NVPERS is a separate state entity managing defined-benefit pension assets for public workers. The Treasurers' Office manages the state's cash flows, debt issuance, unclaimed property, and a policy-driven private investment program aimed at in-state economic development — it is not a pension fund, though both operate as public institutional allocators.

The Nevada State Treasurer, Zach Conine, holds ultimate authority over the office's investment programs as an elected constitutional officer. Day-to-day portfolio management is executed by internal investment staff, while external managers like Hamilton Lane handle specialized mandates such as the Silver State Opportunities Fund.