Karl Cheng

Chief Investment Officer at

Wyoming State Treasurer (Investment Management)

Finance

Consumer Services

Profile

Mr. Karl Cheng, CFA MBA, is a Chief Investment Officer at Wyoming State Treasurer.
Mr. Cheng joins Wyoming from the Oregon State Treasury, where he has served as Head of Portfolio Risk and Research.
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.
Before joining the State of Oregon, he held investment consulting roles at RVK and portfolio management positions at Barclays and UBS.
He received his undergraduate degree from Massachusetts Institute of Technology, a graduate degree from the University of California and an MBA from the University of Southern California.

Karl Cheng active positions

Companies	Position	Start
Wyoming State Treasurer (Investment Management) Wyoming State Treasurer (Investment Management) Investment ManagersFinance WST-IM combines internal and external portfolio management and utilzies cutting-edge investment technologies. The earnings from their sovereign wealth fund provide over 30% of Wyoming’s annual spending budget.	Chief Investment Officer	2025-12-31

All active positions of Karl Cheng

Former positions of Karl Cheng

Companies	Position	End
The Oregon Investment Council The Oregon Investment Council Investment ManagersFinance The OIC invests the assets of the OPERF in the following asset classes: Domestic Equity, International Equity, Fixed Income, Real Estate, Private Equity, Opportunity, Alternatives, and Cash. Of total fund assets, 5 percent of OPERF is targeted for investment in equities, inclusive of private equity. For a majority of OPERF's fixed income allocation, multiple active generalist managers are used, rather than the specialist manager approach used within the fund's public equity allocation.	Analyst-Equity	2025-12-31
UBS Investment Bank (US) UBS Investment Bank (US) Investment Banks/BrokersFinance Provides investment banking services	Corporate Officer/Principal	-
Barclays Global Investors NA Barclays Global Investors NA Investment ManagersFinance Provides investment advice	Corporate Officer/Principal	-

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Linked companies

Private companies	7
Barclays Global Investors NA Barclays Global Investors NA Investment ManagersFinance Provides investment advice	Finance
The Oregon Investment Council The Oregon Investment Council Investment ManagersFinance The OIC invests the assets of the OPERF in the following asset classes: Domestic Equity, International Equity, Fixed Income, Real Estate, Private Equity, Opportunity, Alternatives, and Cash. Of total fund assets, 5 percent of OPERF is targeted for investment in equities, inclusive of private equity. For a majority of OPERF's fixed income allocation, multiple active generalist managers are used, rather than the specialist manager approach used within the fund's public equity allocation.	Finance
University of Southern California University of Southern California Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
Massachusetts Institute of Technology Massachusetts Institute of Technology Finance/Rental/LeasingFinance Functions as a College/University	Finance
UBS Investment Bank (US) UBS Investment Bank (US) Investment Banks/BrokersFinance Provides investment banking services	Finance
University of California University of California Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
Wyoming State Treasurer (Investment Management) Wyoming State Treasurer (Investment Management) Investment ManagersFinance WST-IM combines internal and external portfolio management and utilzies cutting-edge investment technologies. The earnings from their sovereign wealth fund provide over 30% of Wyoming’s annual spending budget.	Finance

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