# Wyoming Retirement System

Wyoming Retirement System is a Pension Fund based in Cheyenne, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Cheyenne, United States
- **Region:** North America
- **Address:** 2515 Warren Avenue, Suite 450, Cheyenne, WY 82002, United States
- **Founded:** 1953
- **Assets under management:** 13000 (Altss research record) (Altss estimate)
- **Website:** retirement.wyo.gov
- **LinkedIn:** https://www.linkedin.com/company/wyoming-retirement-system

## Regulatory record

- **Reports private funds:** No

## About

The Wyoming Retirement System was established in 1953 to administer retirement benefits for the state's public workforce. It serves over 700 public employers and manages both defined benefit pension plans and supplemental savings programs. Sam Masoudi has led investments since 2013 while David Swindell has served as Executive Director since 2019. The portfolio allocates 12.42 percent to private equity with a 13 percent target. Confirmed holdings include commitments to Blackstone, Hillhouse Capital Health, Hamilton Lane funds and Ridgewood Energy Fund III. Additional exposure covers marketable alternatives at 20.4 percent, core real estate through the IDR Core Property Index Fund, and fixed income. Geographic reach spans the United States and global markets through these vehicles. The system employs 60 professionals at its Cheyenne headquarters. It maintains memberships in NASRA, NCTR, and the Council of Institutional Investors. February 2026: Conducted a board meeting in Cheyenne to review investment policy, asset allocation, and performance. Consultants include Meketa Investment Group for general investment advice and RVK for real estate. The system's governance structure separates board policy oversight from staff execution, with the Wyoming State Treasurer serving as an ex officio board member. This creates direct public accountability distinct from private family offices or endowments.

## Sectors

- Private Equity
- Real Estate
- Infrastructure

## People

- Sam Masoudi — Chief Investment Officer
- David Swindell — Executive Director
- Jeremy Smith — Board Chair
- Curt Meier — Board Member

## Questions

### Who runs investment decisions at Wyoming Retirement System?

Sam Masoudi serves as Chief Investment Officer and has overseen the portfolio since 2013. The board, chaired by Jeremy Smith, sets policy with input from consultants Meketa Investment Group and RVK.

### What asset classes does Wyoming Retirement System allocate to?

The system holds public equities, private equity at 12.42 percent, real estate, marketable alternatives including hedge funds, fixed income, and a 4.8 percent gold allocation.

### Does Wyoming Retirement System make direct investments or only fund commitments?

The system participates as a limited partner in funds such as Blackstone, TCI Real Estate Fund III, and Hamilton Lane vehicles. It also holds direct public equity positions including SPY, EFA, NVDA, AAPL, and MSFT.

### Where does the underlying capital originate?

Assets come from contributions by over 700 Wyoming public employers and their employees to eight defined benefit plans and a 457(b) plan.

### Which professional networks does Wyoming Retirement System belong to?

The system maintains memberships in NASRA, NCTR, and the Council of Institutional Investors.

### How does Wyoming Retirement System handle governance and oversight?

A board including the Wyoming State Treasurer sets investment policy. Staff executes under the CIO while external consultants provide advice and actuarial services.

### What recent board actions has Wyoming Retirement System taken?

February 2026: Conducted a board meeting in Cheyenne to review investment policy, asset allocation, and performance.

## Related profiles

- [Lucerne Pension Fund](https://altss.com/profile/lucerne-pension-fund)
- [Shigagin Lease Capital](https://altss.com/profile/shigagin-lease-capital)

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

Canonical page: https://altss.com/profile/wyoming-retirement-system

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