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Wyoming State Treasurer's Office
Elected official Curt Meier serves as the chief investment officer for the State of Wyoming, a role created in 1890 when statehood transferred federal lands —...
Wyoming State Treasurer's Office
Elected official Curt Meier serves as the chief investment officer for the State of Wyoming, a role created in 1890 when statehood transferred federal lands — and the mineral rights beneath them — into the public treasury. The office manages a blend of permanent funds, including the Excellence in Higher Education Endowment Fund and the Hathaway Scholarship Endowment Fund, all seeded by severance taxes on coal, oil, and gas extraction. Wyoming's constitution mandates the corpus of these funds remain intact, a structural feature that aligns the office's horizon with long-duration institutional investors rather than political cycles. Asset allocation spans traditional fixed income and equities alongside opportunistic real estate funds held globally. The office maintains a dedicated energy midstream and MLP portfolio, reflecting the state's resource economy, while also deploying capital into venture capital strategies. Large project loans support infrastructure within Wyoming itself. In a notable departure from sovereign wealth fund orthodoxy, the office established a Bitcoin custody program, positioning Wyoming as a first-mover state in digital asset adoption by public treasuries. Direct portfolio company holdings include Strive Inc., a financial services firm. Governance flows through multiple boards on which the Treasurer sits. The State Loan and Investment Board (SLIB) directs management of permanent funds, while the Treasurer also holds a seat on the Wyoming Retirement System's Board of Directors and the Board of Land Commissioners. These interlocking roles concentrate investment authority while distributing oversight. The office maintains professional affiliations with the National Association of State Treasurers and the National Association of State Auditors, Comptrollers and Treasurers. Wyoming's permanent-fund structure is constitutionally permanent — principal cannot be spent — which fundamentally differentiates it from most state treasuries that manage short-duration operating cash. This perpetual-life architecture, combined with rapid legislative enthusiasm for digital-asset and blockchain experimentation, makes the office a structural outlier among US public asset owners.
General information
Firm type
Sovereign Wealth Fund
Year founded
1890
Location
Region
North America
Country
United States
City
Cheyenne
Corporate office
Cheyenne, WY, United States
Principals
Curt Meier
State Treasurer
Sector focus
Frequently asked questions
Who runs investment decisions at the Wyoming State Treasurer's Office?
State Treasurer Curt Meier, an elected official, holds ultimate authority as chief investment officer. He operates in concert with the State Loan and Investment Board (SLIB), on which he sits alongside four other elected officials. The board structure blends singular executive decision-making with committee oversight.
Where does the underlying wealth come from?
Wyoming's permanent funds are overwhelmingly derived from severance taxes on mineral extraction — coal, oil, and natural gas. Federal land grants at statehood in 1890 established the asset base, with the state constitution requiring the corpus be preserved in perpetuity. The income funds higher education, scholarships, and general government operations.
Is the office structured as an endowment or a conventional state treasury?
It functions more like a sovereign endowment than a short-term treasury. Permanent funds have a constitutionally mandated perpetual life, meaning only investment income is distributed. Separate operating cash pools cover near-term state obligations. This structure produces an investment horizon closer to university endowments than to ordinary state general funds.
Does the Treasurer's Office hold cryptocurrency?
Yes. Wyoming has established a Bitcoin custody program and holds unclaimed cryptocurrency property. The office was an early mover among US public treasuries in treating digital assets as a legitimate allocation within its permanent-fund framework.
What is the relationship between the Treasurer's Office and the Wyoming Retirement System?
The State Treasurer serves on the Board of Directors of the Wyoming Retirement System, a separate legal entity managing roughly $10 billion in pension assets. The two pools are distinct — permanent funds under the Treasurer and SLIB are managed separately from pension assets, though board overlap creates informal coordination.
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