One Investment Process,
Multiple Solutions
Our nimble, entrepreneurial approach is underpinned by a clear focus on generating the greatest investment outcomes for clients.
Endowment Model
We believe the endowment model is a superior long-term investment solution. We implement our investment strategy through a well-aligned, discretionary evergreen portfolio that offers clients the benefits of scale and immediate access to alternative asset classes. Rather than building a private markets program from scratch, an approach that can take years to reach target allocations, clients gain day-one exposure to a mature, globally diversified portfolio spanning public and private equity, real assets, and hedge funds.
We believe in investing in alternative assets, including sourcing, due diligence, and manager selection, is a core competitive advantage of Makena’s experienced investment team. These investments are thoughtfully diversified in order to seek to mitigate risk and preserve and grow capital for generations. Our approach balances a majority allocation to equities, both public and private, with real assets for inflation protection and hedge funds and fixed income for liquidity and downside management, all calibrated to sustain distributions while compounding capital over the long term.
OCIO Solutions
For clients who desire a more holistic engagement, we offer OCIO services to manage the full portfolio, both within and beyond Makena’s vehicles. Makena vehicles anchor each OCIO portfolio, providing the endowment-model foundation, while we source and coordinate additional solutions, including legacy holdings and liquid strategies, to round out each client’s risk, liquidity, and return objectives. The result is a single, custom-tailored portfolio built around each client’s unique needs.
As a discretionary OCIO, Makena assumes full responsibility for day-to-day investment decisions, including asset allocation, manager selection, portfolio construction, and rebalancing, all within the framework of a client-specific Investment Policy Statement.
Each OCIO relationship is supported by a dedicated, senior-level team that works closely with a client’s investment committee and staff through onboarding, ongoing portfolio management, and regular reporting. This includes customized reporting across the full portfolio, including externally managed assets, along with frequent communication designed to keep committees informed without adding to their operational burden.
Portfolio Solutions
Private Equity Alternatives
Through our Private Alternative strategies, clients gain differentiated exposure to investment opportunities others can’t easily access.
Buyout
Our Buyout strategy gives clients evergreen access to Makena’s private equity exposure, drawn from the same investment process as the Endowment Portfolio.
We invest across high-conviction emerging managers and established franchises, distinguished by differentiated sourcing and operational experience, with a focus on mid-cap and small-cap managers and selective large-cap exposure.
This is complemented by proprietary, fee-advantaged direct investments, including co-investments, secondaries, and independent sponsors.
Venture Capital
Our Venture Capital strategy leverages Makena’s Silicon Valley network of leading early-stage managers, many of whom are capacity constrained and closed to new capital despite a track record of superior results, offered through the same evergreen structure as the rest of our platform.
We complement this exposure with select growth equity investments, building a diversified portfolio across the innovation lifecycle, and pursue direct opportunities in high-conviction companies at later growth stages to deepen exposure to category-defining, generational businesses.
Targeted Solutions
