Form D · Other Investment Fund

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

Menlo Park, CA · CIK 0001710034

Offering snapshot reported Aug 31, 2026 · SEC filing

Reported sold: $498M
Investors reported: 20
Minimum accepted: $0
First sale: Jul 1, 2017

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$497,951,616 → $498,251,616
Reported investors19 → 20

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Aug 31, 2026	Amendment	$498,251,616	$300,000vs Jul 15, 2025	20	SEC filing
Jul 15, 2025	Amendment	$497,951,616	$0vs Apr 21, 2023	19	SEC filing
Apr 21, 2023	Amendment	$497,951,616	$380,400vs Jan 11, 2022	12	SEC filing
Jan 11, 2022	Amendment	$497,571,216	$104,793,680vs Jan 29, 2021	11	SEC filing
Jan 29, 2021	Amendment	$392,777,536	$12,580,543vs Mar 12, 2020	11	SEC filing
Mar 12, 2020	Amendment	$380,196,993	$0vs Feb 3, 2020	11	SEC filing
Feb 3, 2020	Amendment	$380,196,993	$0vs Feb 3, 2020	11	SEC filing
Feb 3, 2020	Amendment	$380,196,993	$88,763,327vs Mar 14, 2019	11	SEC filing
Mar 14, 2019	Amendment	$291,433,666	$154,295,700vs Jan 31, 2019	10	SEC filing
Jan 31, 2019	Amendment	$137,137,966	No comparison	10	SEC filing
Jun 29, 2017	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-289755

Source: Form D, filed Aug 31, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

MAKENA PERPETUAL U.S. REAL ESTATE FUND, L.P.

Investment adviser: MAKENA CAPITAL MANAGEMENT, LLC

Gross asset value: $193M
Beneficial owners: 19
ADV minimum commitment: $10M

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C TECHNOLOGIES, INC. NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor DELOITTE & TOUCHE LLP NEW YORK, New York, United States

Custodian SILICON VALLEY BANK MENLO PARK, California, United States Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

DELOITTE & TOUCHE LLP
PCAOB 34

SILICON VALLEY BANK
LEI 549300D2KJ20JMXE7542

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

Filing source

Form ADV 2085303 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-1406763120

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Lara Banks	Director
Craig Blanchard	Director
David C. Burke	Director
Joseph Dekker	Director
Jackson Garton	Director
Kia Ghorashi	Director
Lawrence Edward Kochard	Director
Joseph Magher	Director
N/A Makena Capital Management (Cayman), Llc	Director
N/A Makena Capital Management Gp, Llc	Director
N/A Makena Capital Management, Llc	Promoter
N/A Makena Performance Holdings, L.P.	Director
N/A Makena Perpetual Fund Manager, Llc	Promoter
Michael G. Mc Caffery	Director
William Mc Grath	Director
William R. Miller	Director
Jeffery Mora	Director
Luke Proskine	Director
Brian Rodde	Director
Mike Tremmel	Director
Jonathan Van Gorp	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

2755 Sand Hill Road, Suite 200
Menlo Park, CA, 94025