Makena Capital Management, LLC

Makena Capital Management, LLC was formed in 2005 by senior executives from the Stanford Management Company along with other leading practitioners from elite North American endowments and foundations. We offer investment expertise, scale and access to our diverse client base which includes endowments, foundations, family offices, sovereign wealth funds and international institutions focused on preserving and growing multigenerational capital. Our approach is based on investment disciplines pioneered by the leading North American university endowments and foundations. Makena began investing capital on April 1, 2006. Our commingled investment vehicle structure ensures alignment with and across our client base while also allowing our investment team to focus on investing a single pool of capital. Investing in alternative assets – sourcing, due diligence, and manager selection – is a core competitive advantage of Makena’s experienced investment team. The investment vehicles we offer are thoughtfully diversified across high-quality alternative assets in order to mitigate risk and preserve and grow capital for the next generation. We believe the Endowment investment model is a superior long-term investment solution. We implement our investment strategy through well-aligned and discretionary evergreen vehicles that offer clients the benefits of scale and immediate access to alternative and private asset portfolios. We have a single investment process, providing a clear focus towards generating the greatest investment outcomes, while avoiding allocation conflicts and maximizing the alignment of interests with our clients. We partner with Endowments, Foundations, Family Offices, and Institutions that are committed to our likeminded approach to perpetual capital investing, which aims to sustainably support current and future generations. We strive to serve our clients not only as fiduciaries, but as trusted, long-term partners with aligned values and goals. Makena’s Real Assets portfolio invests in high-quality Real Estate and Natural Resources opportunities, which can generate attractive returns while providing some inflation protection for a broader multi-asset class portfolio. The Real Estate allocation targets investments which benefit from localized market dynamics characterized by demographic and needs-based demand. We access these investments by partnering with proven managers and operators in bespoke structures that place Makena closer to the asset for better-aligned economics and oversight, while complementing these private investments with a custom high-quality portfolio of public real estate investments. Makena pursues Natural Resources investments on an opportunistic basis, with an emphasis on capturing inflation-hedging characteristics.