The state of Wyoming plans to increase its investment in private equities. The state's Loan and Investment Board voted Monday to invest up to $600 million in investments that aren't traded on the stock markets over the next three to five years. The state has more than $16 billion in its total portfolio. The board includes Gov. Matt Mead and the other four statewide elected officials. They voted to invest $200 million each in Hamilton Lane of Philadelphia and Neuberger Berman of Dallas. The state treasurer's office intends to research other firms to handle the remaining $200 million. Bob Grady, a principal in Cheyenne Capital Fund, says his firm plans to bid to manage the remaining $200 million. It has handled state investments in private equity since 2003.
I think it can be a good idea, in case of the necessity to invest money with a possibility of long-term obligations and delay of earnings. The state has quite great investment fund that has been already bringing money, so today it’s obviously a good possibility to have earnings in perspective. In some cases it can be even more attractive for ordinary people when they can try payday loans and get quick monetary assistance with no hassle. But this is only working in short-term period, so people must plan their finance to be able cover the debt in due terms.
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