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MAKENA CAPITAL MANAGEMENT, LLC
CRD 156855File 801-74068
APPROVED
Custody
Filing as of Mar 31, 2026
Feed vintage Oct 1, 2026
Regulatory AUM
$24.28B
Top 10% of cohort (national)
Discretionary AUM
$23.81B
Non-discretionary $464.9M
Clients
48
48 accounts
Employees
77
Top 10% of cohort in CA
Identity & registration
ADV Item 1- Organization form
- Limited Liability Company
- Firm type
- Registered
- SEC region
- SFRO
- Registration date
- Mar 30, 2012
- Principal office
- 2755 SAND HILL ROAD, SUITE 200, MENLO PARK, CA, 94025
- Phone
- 650-926-0510
- Website
- HTTPS://WWW.MAKENACAP.COM/
Assets & accounts
ADV Item 5F- Total regulatory AUM
- $24.28B
- Discretionary AUM
- $23.81B
- Non-discretionary AUM
- $464.9M
- Discretionary accounts
- 43
- Non-discretionary accounts
- 5
- Total accounts
- 48
- AUM per client
- $505.8M
Clients by type
ADV Item 5D| Client type | Clients | AUM |
|---|---|---|
| Charitable organizations | 12 | $673.8M |
| Pooled investment vehicles | 36 | $23.60B |
Compensation & activities
ADV Items 5E, 5GCompensation
- Other
- Other (described) — CARRIED INTEREST
- Performance-based fees
- A percentage of assets under your management
Advisory activities
- Selection of other advisers
- Portfolio management for businesses
- Portfolio management for pooled investment vehicles
Custody
ADV Item 9- Firm Custody Cash
- Yes
- Firm Custody Assets
- Yes
- Firm Custody Clients
- Yes
- Firm Custody Securities
- Yes
- Related Person Custody Cash
- No
- Related Person Custody Assets
- No
- Related Person Custody Clients
- No
- Related Person Custody Securities
- Yes
Disclosure events
ADV Item 11This firm answered no to every Item 11 disclosure question in this filing.
Filed changes
| Date | Field | From | To | Change |
|---|---|---|---|---|
| Apr 1, 2026 | Employees | 80 | 77 | decreased by3 |
| Apr 1, 2026 | Clients | 35 | 48 | increased by13 |
| Apr 1, 2026 | AUM | $23,923,658,010 | $24,276,709,692 | increased by$353,051,682 |
| Apr 1, 2026 | Accounts | 35 | 48 | increased by13 |
| May 1, 2025 vs Oct 1, 2022 | Employees | 76 | 80 | increased by4 |
| May 1, 2025 vs Oct 1, 2022 | Clients | 28 | 35 | increased by7 |
| May 1, 2025 vs Oct 1, 2022 | AUM | $24,956,773,327 | $23,923,658,010 | decreased by$1,033,115,317 |
| May 1, 2025 vs Oct 1, 2022 | Accounts | 28 | 35 | increased by7 |
| Apr 1, 2022 | Clients | 30 | 28 | decreased by2 |
| Apr 1, 2022 | AUM | $22,700,128,949 | $24,956,773,327 | increased by$2,256,644,378 |
| Apr 1, 2022 | Accounts | 30 | 28 | decreased by2 |
| Apr 1, 2021 | Registration | — | APPROVED |
On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.
See plans that list “MAKENA CAPITAL” as a service provider on 5500mcp →Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“MAKENA CAPITAL” may also match similarly-named firms). Confirm identity against each filing.
Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.