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EDGAR Verified
Primary Source · SEC.gov

Makena Perpetual U.S. Real Estate Fund, L.P.

CIK 0001710034Fund Vehicle2025 vintage506(b), 3(c)

Raised

$498M

Investors

19

Min Invest

$0

AltStreet Analysis

·

Generated from EDGAR primary sources

Makena Perpetual U.S. Real Estate Fund, L.P. is a Delaware limited partnership filed under Rule 506(b) and Section 3(c) exemptions. This amended filing reports $498.0 million raised from 19 investors. The fund is managed by Makena Capital Management entities with a board including Lara Banks, Joseph Dekker, and seven other directors.

This real estate pooled investment fund employs the 506(b) private placement exemption typical of institutional real estate vehicles. With 19 investors and nearly half a billion in capital, the fund exhibits characteristics consistent with large institutional or high-net-worth investor allocations rather than retail syndication structures.

Data Flags

first_sale_dateFirst sale date not disclosed on an amended filing with $498M raised; typical for large institutional funds but limits transparency on fund lifecycle timing
investor_countAverage commitment of approximately $26.2M per investor suggests institutional or family office capital base; unusually concentrated for a real estate fund
generalThree separate Makena entities listed as directors (Makena Performance Holdings, L.P., Makena Capital Management (Cayman), LLC, and Makena Capital Management GP, LLC) indicates complex governance structure with offshore component

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0001710034
Entity NameMakena Perpetual U.S. Real Estate Fund, L.P.
Exemption506(b), 3(c)
First Sale Date—
Filing DateJuly 15, 2025
Accession Number0001231919-25-000118
Total Amount Sold$498M
Total Investors19
Minimum Investment$0 (no stated minimum)
Securities TypePooled Investment Fund
State of IncorporationNot specified
Amendment CountOriginal filing only

Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

N/A Makena Performance Holdings, L.P.

Director · Menlo Park, CA

N/A Makena Capital Management (Cayman), LLC

Director · Menlo Park, CA

N/A Makena Capital Management GP, LLC

Director · Menlo Park, CA

Lara Banks

Director · Menlo Park, CA

Joseph Dekker

Director · Menlo Park, CA

Jackson Garton

Director · Menlo Park, CA

Kia Ghorashi

Director · Menlo Park, CA

William McGrath

Director · Menlo Park, CA

Mike Tremmel

Director · Menlo Park, CA

Luke Proskine

Director · Menlo Park, CA

Brian Rodde

Director · Menlo Park, CA

Jonathan Van Gorp

Director · Menlo Park, CA

Joseph Magher

Director · Menlo Park, CA

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.