Why Makena
Makena Capital Management is a leading investment firm whose objective is the preservation and appreciation of long-term capital
Aligned Interests
Makena is an independently-owned, multigenerational firm with a single line of business and no subsidiaries. Broad equity ownership spans multiple generations of our employees, ensuring Makena is constructed for the long term, consistent with the capital which we manage. Broad equity ownership also assists in Makena’s ability to attract and retain talent. Partners, employees and members of Makena’s Board of Directors have significant personal investment in our vehicles directly alongside our clients’ capital. The commingled structure of our vehicles aligns interests with and across our clients while eliminating allocation conflicts; each client owns a pro rata portion of each investment we make. This structure also enables our investment team to focus on investing a single pool of capital.
Board of Directors
Eric Doppstadt, CFA, is Vice President and Chief Investment Officer of The Ford Foundation in New York, and has over 20 years’ experience in investment management. He is responsible for managing the Foundation’s $12 billion endowment, where he leads a team of fifteen professionals. Before assuming his current position in June 2009, he spent fifteen years in a number of alternative investment roles at the Foundation, including nine years managing the Foundation’s investments in venture capital, private equity, distressed investments, and hedge funds. Prior to joining the Foundation, he spent five years practicing corporate law with the firm of Paul, Weiss, Rifkind, Wharton & Garrison in New York.
He is a member of the World Economic Forum Committee on the Future of Long-Term Investing and a Director and member of the Finance & Investment Committee of Arch Capital Group, Ltd. (NASDAQ: ACGL), a Bermuda-based company that provides specialty insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.
He received his undergraduate degree with Honors from The University of Chicago, studied international economics at Georgetown University on a fellowship from the Fund for American Studies, and received a law degree from NYU School of Law, where he was Articles Editor of the NYU Annual Survey of American Law. He also holds the Chartered Financial Analyst designation from the CFA Institute.
Dr. Jeffrey Jaensubhakij is the Group Chief Investment Officer of GIC (Government of Singapore Investment Corporation). He was appointed to this position on January 1, 2017. In 1998 he joined GIC as a Senior Economist covering the US economy and since then he has held asset allocation portfolio responsibilities as Co-Head of Asset Allocation Strategy in the Economics and Strategy Department. From 2003 to 2011 Dr. Jaensubhakij was Head of Total Return Equities and the US Equities teams based in GIC’s New York Office. In 2011, he was appointed President of Europe, responsible for coordinating GIC’s investment activities in Europe across public and private asset classes. He was then appointed President of Public Markets and Director of Public Equities in 2013 and Deputy Group Chief Investment Officer in 2016.
Dr. Jaensubhakij holds a B.A. in Economics from Cambridge University as well as a master’s and a Ph.D. in Economics from Stanford University.
Dr. Robert L. Joss is the Chairman of the Board of Directors of Makena Capital Management. Dr. Joss was Dean of the Graduate School of Business at Stanford University from 1999 to 2009. Prior to working at Stanford University, Dr. Joss was the Chief Executive Officer of Australia’s Westpac Banking Corporation, one of Australia’s largest banks. Prior to Westpac, Dr. Joss spent 22 years with San Francisco-based Wells Fargo, holding a variety of positions, and served as Vice Chairman for his last 7 years. Before joining Wells Fargo, he worked in Washington, D.C., first as a White House fellow and then for the Treasury Department as Deputy to the Assistant Secretary for Economic Policy. Dr. Joss is currently a director of CM Capital and Social Finance, Inc, and he was formerly a director of Citigroup, Wells Fargo & Co, Westpac Banking Corp, Shanghai Commercial Bank Ltd., and Bechtel Group.
Dr. Joss was a Sloan fellow in 1965-66, earned an M.B.A. in 1967 and a Ph.D. in 1970 from the Stanford Graduate School of Business. He also holds a B.A. in economics, magna cum laude, from the University of Washington.
William J. Kneisel is a retired investment banker with over 30 years of experience at Morgan Stanley & Co. Incorporated. After taking responsibility for the firm’s U.S. underwriting activities in 1978, he successively became head of U.S. debt origination, European investment banking and worldwide equity capital markets. On two occasions (in 1978 and 1992) during Morgan Stanley’s transition from a private investment bank to a global securities firm, Mr. Kneisel organized the development and adoption of a comprehensive business-wide strategic plan. Mr. Kneisel has been actively involved in fundraising for colleges and schools including Dartmouth College, Middlebury College, The Taft School, Hopkins School, and Harvard Business School. Most recently, Mr. Kneisel served as President of the Hopkins School Committee of Trustees.
Mr. Kneisel graduated from Harvard Business School in 1974, magna cum laude and as a George F. Baker Scholar. He earned his B.A. at Dartmouth College.
Michael McCaffery is Chairman of Makena’s Executive Committee. Mike was the firm’s founding CEO and has also served as the Executive Chairman and Managing Partner. He is also a current member of the Management Committee. Prior to forming Makena Capital Management in 2005, Mike was the President and CEO of the Stanford Management Company overseeing the Stanford University endowment, which he joined in 2000. Previously, he was Chairman and CEO of the investment bank Robertson Stephens and Company. Mike joined Robertson Stephens as Director of Investment Banking in 1988. Prior to Robertson Stephens, Mike was with Morgan Stanley and Company.
Mike was named to the board of directors of NVIDIA Corp. in March 2015 and is a director of C3, a private technology firm. He also serves as Trustee Emeritus of the Rhodes Scholarship Trust. Mike is a member of the advisory boards of several fund managers and the Stanford Institute for Economic Policy Research (SIEPR). Mike graduated with a B.A. from Princeton University, and as a Rhodes Scholar attended Merton College at Oxford University, where he earned a B.A. Honors and an M.A. Mike has an M.B.A. from the Stanford Graduate School of Business.
Ms. Peedin served as Chief Investment Officer for Dartmouth College (2011-2017). As CIO, she led the 14-person investment office tasked with the management of the university’s investment assets, made up of the endowment, two intermediate-term investment pools and the defined benefit pension plan.
Prior to joining Dartmouth, Pam served as Chief Investment Officer at Boston University, where she established the institution’s investment office and oversaw the management of the endowment. Before joining Boston University, Ms. Peedin was a managing director at investment consulting firm Cambridge Associates, where she worked for 9 years serving clients including endowments, foundations and family offices. Pam began her career in teaching and educational administration in secondary schools.
Currently, Pam is Trustee and Chair of the Investment Committee of the Boston Symphony Orchestra. She is also on the Board of Advisors and the Investment Committee of the Isabella Stewart Gardner Museum as well as the Investment Committee of Partners Healthcare. She serves on the Board of Directors of The Investment Fund for Foundations and is also a member of the investment advisory boards of three multi-generational family offices.
Ms. Peedin graduated from Dartmouth College and received her MBA from Tuck School of Business. She lives with her husband and two teenage sons in Milton, MA.
Dr. Condoleezza Rice is the Thomas and Barbara Stephenson Senior Fellow on Public Policy at the Hoover Institution, the Denning Professor in Global Business and the Economy at the Stanford Graduate School of Business, and professor of political science at Stanford University. From January 2005 to 2009, she served as the 66th Secretary of State of the United States. Prior to assuming that position, she served as the Assistant to the President for National Security Affairs (the National Security Advisor) from January 2001 to 2005. Dr. Rice joined the Stanford University faculty as a professor of political science in 1981 and served as Stanford University’s provost from 1993 to 1999. She was a senior fellow at the Hoover Institution from 1991 to 1993 and returned to the Hoover Institution after serving as provost until 2001.
Dr. Rice earned her Ph.D. from the Graduate School of International Studies at the University of Denver in 1981 and her master’s degree from the University of Notre Dame in 1975. She earned her bachelor’s degree in political science, cum laude and Phi Beta Kappa, from the University of Denver in 1974.
Makena Team
Nic Amaroli is a Vice President at Makena, working closely with Makena’s Endowment, Foundation and Family Office clients on their investment portfolios. Additionally, Nic leads the creation of investor letters and investment white papers, and Nic oversees a team of associates and analysts responsible for supporting existing client partnerships and fostering new client partnerships. Prior to joining Makena in 2013, Nic was an investment analyst at Peninsula Capital Management, a long/short equity fund, where he was responsible for security selection and portfolio management. Nic earned a B.A. in Economics from the University of California, Davis.
Lara Banks, a Managing Director, is co-head of Makena’s Private Equity team, responsible for day-to-day portfolio management and manager selection across private equity investments. Lara is also a member of Makena's Management and Investment Committees. In addition to her duties overseeing private equity investments, Lara leads the firm's sustainability efforts as they relate to investment diligence and oversight. Prior to joining Makena in 2012, Lara was an associate at GE Energy Financial Services, a financial division investing across the capital structure of energy assets. At GE, Lara analyzed investments in domestic and foreign oil and gas fields. Prior to GE, Lara was a power markets analyst at DC Energy, a proprietary energy trading firm. Lara earned an M.B.A. from Harvard Business School and a B.A. in Economics and Government, magna cum laude, from Cornell University.
Craig Blanchard, a Managing Director, is head of the Real Assets team, overseeing investments and portfolio construction. Craig is also a member of Makena's Management and Investment Committees. Prior to joining Makena, Craig was a Managing Director at the Stanford Management Company, where he often co-invested with the Makena real asset teams and where he oversaw the real estate portfolio and served on the investment committee. Prior to Stanford, Craig was a principal at the Townsend Group and Head of Special Situations Investing, where he led a significant component of Townsend’s real estate business. Craig began his career with capital deployment and asset management roles at Broadreach Capital Partners, a Palo Alto-based real estate private equity firm, and at AMB Properties Corporation, a global logistics REIT. He earned an M.B.A. from the Stanford Graduate School of Business and a B.A., with highest honors, from the University of California, Santa Barbara.
Jonathan Chan oversees all financial operations of Makena vehicles. He is involved in all fund structuring and oversees the relationship with all key fund vendors. Prior to joining Makena, Jonathan was the Controller at Parador Asset Management, a long/short Canadian hedge fund. Before joining Parador, Jonathan was the Finance Manager at Pantera Capital Management, a global macro hedge fund. Jonathan received a B.S. in Mathematics and a B.A. in Economics from the University of California, Irvine.
Maddie Clarfield is a Senior Associate and Chief of Staff to the CIO. Maddie is responsible for supporting portfolio management and manager selection on the marketable asset classes, including Public Equity, Hedge Funds and Fixed Income, and private equity investments, including healthcare and credit strategies. Maddie also works closely with the Risk Management and Portfolio Strategy team and is the lead analyst on two OCIO relationships. Maddie received a Bachelor’s degree in Business Administration with an emphasis in Finance at the University of Michigan’s Ross School of Business where she graduated with High Honors. She was a member of the varsity women’s soccer team at Michigan and was a Captain in her senior year.
Andre Cuerington, a Managing Director in Makena’s Client Strategy Group, is responsible for advising Makena’s institutional clients on the integration of alternative investments into portfolios with diverse goals and structures. Before joining Makena in 2016, Andre was a Senior Vice President in Business Development at the TCW Group in Los Angeles. Before TCW, Andre helped start the business development team at Waterfall Asset Management, a credit-focused hedge fund headquartered in New York. Prior to Waterfall, Andre was a Vice President with PineBridge Investments in Los Angeles, where he focused on business development with Western U.S. public pension funds. Before PineBridge, Andre spent six years at Western Asset Management as a client service executive focused on large institutional clients. He began his investment career at Callan Associates, where he managed the Quantitative Consulting team, which primarily focused on asset/liability studies. Andre served for 13 years in the United States Army and held various leadership roles. He earned a B.S. in Operations Research from the United States Military Academy, an M.S. in Applied Mathematics from the Naval Postgraduate School, and an M.S. in Engineering-Economic Systems from Stanford University.
Rossella Curci, a Managing Director, leads the team responsible for Investor Relations and Client Operations at Makena. Previously, Rossella was part of the Investor and Fund Management team at CCMP Capital Advisors in New York City. Prior to CCMP, she was a Vice President at JPMorgan Partners, where her responsibilities included fund management and portfolio valuation. Rossella began her career at KPMG where she was a manager in both the valuation services and assurance practices. Rossella holds a B.S. degree in Business Administration from the Walter A. Haas School of Business at the University of California, Berkeley, and is a CPA.
Alison Davis is a Vice President in Makena’s Client Strategy Group, working closely with both domestic and international clients across different segments, including family offices, Endowments and Foundations (E&F), and sovereign wealth funds, on their investment portfolios. She manages the day-to-day responsibilities for these existing partnerships while playing a central role in fostering new client relationships as well as the firm’s investor communications. Prior to joining Makena in 2016, Alison worked at NEPC in Boston as an investment analyst in the E&F practice. Alison earned a B.A in Political Economy from Williams College.
Joe Dekker, a Managing Director, is head of Risk Management and Portfolio Strategy at Makena. Joe leads Makena’s Risk Management Committee and is a member of the Investment Committee. Joe is responsible for the construction and risk management of internal and external multi-asset class portfolios and serves as the portfolio manager for many of our Outsourced CIO (OCIO) clients. For these clients, Joe oversees all aspects of portfolio construction and execution. Since joining Makena at inception, Joe has led portfolio strategy and manager selection for fixed income and credit investments across Makena’s vehicles, and has supported the portfolio management of our flagship Makena Endowment Portfolio (MEP). Prior to the formation of Makena, Joe was an associate at the Stanford Management Company, where he was responsible for asset allocation and risk analytics in support of the Stanford Endowment. Joe holds a B.S. degree in Finance from the University of North Carolina-Wilmington, where he graduated with honors, and an M.B.A. from the Wharton School. Joe is a CFA Charterholder.
Peter Dolan, a Managing Director, oversees investments on Makena’s Private Equity team, including venture capital. Peter also serves on the firm’s Investment Committee. Prior to joining Makena, Peter served as a Managing Director at the Harvard Management Company, where he oversaw the private equity and venture capital portfolio. Prior to joining the Harvard Management Company in 1995, he worked as a consultant at Cambridge Associates and as a private equity analyst at Liberty Mutual Insurance Company. Peter served as a board member of the University of Virginia Investment Management Company for a ten-year period ending June 2012. Peter holds an M.B.A. from the Darden School at the University of Virginia, and a B.A. in Economics from Harvard University.
Dan Drury, a Managing Director at Makena, is responsible for leading all tax operations of the firm, including tax strategy, planning, tax structuring, manager placement, and compliance. He also assists Makena’s investors to minimize global tax leakage and maximize their after-tax returns. Prior to joining Makena, Dan was the Head of Tax for Advantage Capital Partners for seven years, where he led all tax aspects of the firm, including tax planning, M&A, projections, and compliance, as well as many matters of the investment funds and underlying investors. Dan began his career with PricewaterhouseCoopers, where he concentrated in tax consulting and compliance for investment management and alternative asset clients. Dan earned an M.A. in Accountancy and a B.S. from the College of Business at the University of Missouri, Columbia, and is an active CPA.
Jackson Garton, a Managing Director, is head of marketable asset classes including Public Equity, Hedge Funds, and Fixed Income. Jackson is responsible for portfolio management and manager selection for marketable asset classes. Jackson also co-leads the Risk Committee and is a member of the Investment Committee. Jackson also serves on the advisory boards of several of our public equity managers.
Jackson earned an M.B.A. from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar and the winner of the Alexander A. Robichek Award for Outstanding Achievement in Finance. Prior to his M.B.A., Jackson was an associate at Makena supporting asset allocation, following his role as an analyst supporting the CIO and liquid asset class teams. Jackson holds a B.S. degree in Mathematical and Computational Science from Stanford University. Jackson is a CFA Charterholder.
Kia Ghorashi, a Managing Director, is responsible for supporting portfolio management and manager selection for Makena's listed equity and venture capital investments. He is also a member of the firm’s Investment Committee. Prior to Makena, Kia was an associate at RiceHadleyGates LLC, a strategy consulting firm founded by former Secretary of State Condoleezza Rice, National Security Advisor Stephen Hadley, and Secretary of Defense Robert Gates. Kia received a B.A. in International Relations from the University of Virginia, an M.A. in International Relations from Stanford University, and an M.B.A. from the Stanford Graduate School of Business.
Michelle Hung is a Senior Associate on Makena’s Performance Reporting Group. She is responsible for portfolio reporting, data integrity, and exposures tracking. Prior to joining Makena in 2014, Michelle was a Supervisor at Citco Fund Services where she was responsible for middle office operations. Michelle holds a B.A. in Political Economy from the University of California, Berkeley.
Larry Kochard is the Chief Investment Officer at Makena Capital Management and a member of Makena’s Executive Committee. He leads Makena’s Investment Committee and is also a Management Committee member. Larry was previously the Chief Executive Officer and Chief Investment Officer of the University of Virginia Investment Management Company (UVIMCO) for eight years. As CEO, Larry provided leadership for all aspects of UVIMCO’s operations and served as UVIMCO’s primary representative to the university, related foundations, and the public. As CIO, Larry was responsible for the investment management of UVIMCO’s Long Term Pool, overseeing the asset allocation, portfolio management, risk management and manager selection activities of the investment staff. Prior to joining UVIMCO, Larry served as CIO at Georgetown University. From 2001 to 2004, he was Managing Director of Equity and Hedge Fund Investments for the Virginia Retirement System. From 1997 to 2004, he taught in the McIntire School of Commerce at the University of Virginia, first as an adjunct and later as a full-time assistant professor. He spent the early part of his career in debt capital markets at Goldman Sachs and corporate finance at Fannie Mae and DuPont. Larry received his B.A. in Economics from the College of William & Mary, an M.B.A. degree in Finance and Accounting from the University of Rochester, and an M.A. and Ph.D. in Economics from the University of Virginia. He is a CFA Charterholder. He is on the board of directors of Janus Henderson Group, Inc. and Virginia Environmental Endowment, and serves as Chairman of the Investment Advisory Committee of the Virginia Retirement System. Larry was the 2015 winner of the Rodney H. Adams Award for Endowment Management from the National Association of College and University Business Officers (NACUBO), which recognizes outstanding contributions to university endowment and investment management. Larry is a longtime moderator of the premier endowment and foundation industry conference, NMS, and is the author of several industry publications, including Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions. More recently, Larry wrote the foreword of and was profiled in Inside the World’s Top Institutional Offices: Conversations With 80 Institutional Investors.
Derek Lapcevic is the Director of Performance Reporting at Makena, where he leads the team responsible for portfolio reporting, data integrity and trade operations. Prior to joining Makena, Derek was an Operations Manager at CITCO Fund Services where he was responsible for the portfolio valuation, profit and loss reporting and middle office operations of CITCO San Francisco’s hedge fund clients. Derek earned a B.S. from California Polytechnic State University, San Luis Obispo. He is a CFA Charterholder.
Katie Lawson is a Senior Associate on the Client Operations team within Makena’s Client Strategy Group. Katie joined Makena in 2011 and supports investor communication, reporting, and events, and manages Makena’s client data systems. Katie holds a B.A. in Advertising and Public Relations from Loyola University of Chicago.
Daniel Leblond is a Director of Fund Operations in Makena’s Financial Operations team. Dan’s responsibilities include operational oversight of a number of Makena’s funds and their service providers. Prior to joining Makena in 2017, Dan was a partner at Vastardis/Conifer, which had provided fund administration services to Makena since the Makena’s inception. Dan has spent the majority of his 20+ year career focusing on financial operations for asset allocators including Funds of Funds, Endowments & Foundations, and family offices. Dan earned a B.A. in Economics from the State University of New York at Geneseo and a M.S. in Finance from the Rochester Institute of Technology.
Ben Levison is responsible for supporting portfolio management and manager selection for Makena’s marketable asset classes. Ben also provides underwriting support for direct investments across all of Makena’s asset classes. Ben rejoined Makena after earning his M.B.A. at the Stanford Graduate School of Business. Prior to his M.B.A., Ben was an associate at Makena supporting the Listed Equity, Asset Allocation, and Risk Management teams. Ben received a B.S. in Business Administration, magna cum laude, from the University of Southern California. Ben is a CFA and CAIA Charterholder.
Joseph Magher is a Managing Director and Head of Business Development and Client Partnerships at Makena with a particular focus on Endowment and Foundation (E&F) and family office clients. He has successfully led the development and growth of our E&F and Outsourced CIO (OCIO) practice over the last ten years. Makena now partners with over 50 E&F clients, including 10 relationships in a fully outsourced capacity. Joseph also plays a senior leadership and management role within our Client Strategy Group.
Joseph has over 20 years of investment experience. Prior to joining Makena in 2009, he worked at Morgan Stanley as a Vice President, advising institutions on their hedge fund portfolios as well as advising hedge funds on capital raising and strategic business matters. Previously, Joseph worked at Credit Suisse First Boston in Private Wealth Management advising high net worth families and foundations on alternative investments. He began his career at a Salomon Smith Barney affiliate in Buenos Aires, Argentina covering local pension funds and Latin America focused investment funds for four years. Joseph received a B.A. in Economics from the University of Virginia and an M.B.A. from the Stanford University Graduate School of Business.
Michael McCaffery is Chairman of Makena’s Executive Committee. Mike was the firm’s founding CEO and has also served as the Executive Chairman and Managing Partner. He is also a current member of the Management Committee. Prior to forming Makena Capital Management in 2005, Mike was the President and CEO of the Stanford Management Company overseeing the Stanford University endowment, which he joined in 2000. Previously, he was Chairman and CEO of the investment bank Robertson Stephens and Company. Mike joined Robertson Stephens as Director of Investment Banking in 1988. Prior to Robertson Stephens, Mike was with Morgan Stanley and Company.
Mike was named to the board of directors of NVIDIA Corp. in March 2015 and is a director of C3, a private technology firm. He also serves as Trustee Emeritus of the Rhodes Scholarship Trust. Mike is a member of the advisory boards of several fund managers and the Stanford Institute for Economic Policy Research (SIEPR). Mike graduated with a B.A. from Princeton University, and as a Rhodes Scholar attended Merton College at Oxford University, where he earned a B.A. Honors and an M.A. Mike has an M.B.A. from the Stanford Graduate School of Business.
Bill McGrath is Makena’s General Counsel and Chief Compliance Officer. A Managing Director, Bill chairs the Compliance Committee and also serves on the Investment and Management Committees. Before joining Makena, Bill was the EVP & General Counsel at Vulcan Inc., the family investment office of Microsoft co-founder Paul Allen. Prior to Vulcan, Bill held senior legal positions at several Silicon Valley-based technology companies and worked for two national law firms. Bill received a B.A. in Political Science from Claremont McKenna College and a J.D. from the University of Chicago.
Amanda McLaughlin supports Makena’s operational due diligence (ODD) function. Amanda joined Makena in 2020, with nine years of direct operational due diligence experience and twelve years of overall experience with alternative investments. Prior to joining Makena, Amanda was a Senior Hedge Fund Analyst at K2 Advisors for six years, responsible for initial and ongoing due diligence reviews of hedge fund and long-only fund managers across numerous strategies and jurisdictions. Prior to K2, Amanda held alternative investment roles in operational due diligence, valuation, and fund analysis. Throughout her career Amanda has conducted diligence on asset managers of varying strategies, including long-only equity, hedge funds, private equity, real estate, and natural resources. Amanda earned an M.B.A. from Southern Methodist University (Cox School of Business) and a B.A. in Business Administration and International Studies. Amanda is a Chartered Alternative Investment Analyst (CAIA).
William Miller is a Managing Director of Makena Capital Management. Bill also serves on the firm’s Management Committee. Bill joined Makena in its first year and served as the firm’s Chief Operating Officer from 2006 through 2020. Prior to joining Makena, Bill was the President and CEO of Valchemy, a financial services technology company he led from initial funding in 2002 until it was acquired by IBM in 2006. Before Valchemy, Bill was President and COO of iMediation, S.A, a private software company. Bill spent the first third of his career at Intel and its investment arm, Intel Capital, where his team was responsible for the majority of Intel’s North American equity investments and technology licensing. In his twelve years at Intel, Bill was a senior finance executive for two business groups and served as a general manager, a marketing executive, and a manufacturing engineer.
Bill serves on the board of Western Technology Investment, a registered venture debt investment firm. He holds a B.S. in Industrial & Systems Engineering from the Georgia Institute of Technology.
Andrew Myers is a member of Makena’s Private Equity team, responsible for supporting portfolio management and manager selection for Makena’s private equity investments, including venture capital. He is also a member of the firm’s Investment Committee. Andrew earned his M.B.A. from the Tuck School of Business at Dartmouth. Prior to his M.B.A., Andrew was an associate on Makena’s Private Equity team, following his role as an analyst supporting the private asset class teams. Andrew earned a B.A. from Eugene Lang College.
Frank Perez is responsible for managing Makena’s operational due diligence (ODD) function. Frank brings over 15 years of alternative investment due diligence experience to his role with Makena. Prior to joining Makena in 2015, Frank was engaged in the ODD efforts at Saguenay Strathmore Capital, Morgan Stanley and UBP, where he focused on private equity, real estate and hedge fund investments. Earlier in his career, Frank held risk management roles within the capital markets divisions of several global investment banking institutions, where he was responsible for conducting due diligence on hedge fund counterparties. Frank graduated with a B.A. in Economics and English from Rutgers University.
Luke Proskine is Makena’s Managing Partner leading client and portfolio strategy, and a member of the Executive Committee. Luke is also a member of the Management and Investment Committees, and serves as the CIO for a number of Makena’s OCIO clients. For these clients, Luke leads all aspects of portfolio construction and execution. Prior to his appointment as co-Managing Partner, Luke served in several leadership roles at the firm, including head of Portfolio Strategy, Chief Investment Officer and Deputy Chief Investment Officer. Luke joined Makena at its inception in 2005 and has worked extensively in both private equity and portfolio management functions. Luke has extensive experience working with UHNW families and serves as a board member for a prominent family office.
Prior to the formation of Makena, Luke worked as a Senior Investment Manager at the Stanford Management Company, where he was responsible for portfolio management and risk analysis as well as private equity and real assets investing for the Stanford Endowment. Prior to joining Stanford Management Company, Luke worked for the Thomas Weisel Partners Investment Banking Group, where he was involved in a variety of corporate finance and M&A transactions. Luke holds a B.S. in Economics, magna cum laude, from Vanderbilt University, and an M.B.A. with a major in Finance, with honors, from the Wharton School.
Brian Rodde is Makena’s Managing Partner leading firm operations, and a member of the Executive Committee. Brian is also co-head of Private Equity and a member of Makena's Management and Investment Committees. Brian oversees portfolio management and manager selection across Makena’s buyout and venture capital strategies in addition to overseeing key aspects of the firm’s day-to-day operations. Prior to his appointment as co-Managing Partner, Brian served as the head of Private Equity and as the portfolio manager for Makena's private equity funds. While at Makena, Brian has led portfolio construction and manager selection activities in the Private Equity, Venture Capital, Real Estate, and Natural Resources portfolios. Given his breadth of experience across the private assets, Brian is often called on to advise Makena's global clients on the integration of private asset strategies into client portfolios. Prior to joining Makena, Brian was an associate at SVB Capital, where he evaluated private equity partnership investment opportunities. Brian earned an M.B.A. from the Stanford Graduate School of Business and a B.A. in Economics from Stanford University.
Adam Seymour, a Managing Director based in Makena’s London office, is responsible for efforts in both investment and client strategy. Within the Client Strategy Group, Adam leads Makena’s presence in the EMEA region, maintaining existing relationships and identifying new investments. On the investment side, Adam spans the marketable securities space, focused on sourcing and underwriting absolute return, equity, and credit managers. Prior to Makena, Adam was Head of Absolute Return at the Qatar Investment Authority (QIA), responsible for manager selection and portfolio construction. As a senior member of the Fund Investments Department, Adam helped formulate strategic and tactical asset allocation, while chairing the department’s investment committee. Prior to QIA, Adam worked at HSBC and Morgan Stanley as an equity sell-side analyst covering European integrated oil and gas companies. Adam started his career at the Oxford Institute for Energy Studies where he published numerous monographs on crude oil and oil product markets, including “The Oil Price and Non-OPEC Supplies” (1990), and was editor of The Oxford Energy Forum. Adam is a CFA Charterholder and holds an M.S. in Development Economics from London University.
Breanna (Bre) Stein focuses on risk management and portfolio strategy, supporting the design, implementation, and management of multi-asset class portfolios across Makena’s vehicles. Bre also plays a leading role with the firm’s select Outsourced CIO (OCIO) clients, applying tools from Makena’s portfolio and risk management functions to meet the custom needs of these portfolios. Previously, Bre worked on the Natural Resources team, where she was responsible for supporting portfolio management and manager selection for Makena’s Traditional and Sustainable Natural Resources portfolios.
Bre rejoined Makena after earning her M.B.A. at the Stanford Graduate School of Business. Prior to her M.B.A., Bre was an associate on Makena’s Listed Equity team, while supporting the CIO, various asset class teams, and the team overseeing asset allocation. Bre received a B.A. in Economics with a minor in Finance from Vanderbilt University, where she graduated Phi Beta Kappa, and with Honors in the College of Arts & Sciences.
Pascale Thomas is the Deputy General Counsel and Deputy CCO at Makena, where she, together with the General Counsel, is responsible for managing Makena’s legal affairs and compliance program. Prior to joining Makena, Pascale served as a Managing Director and Assistant General Counsel at Z Capital Group, LLC, a Chicago-based alternative asset management firm. Prior to joining Z Capital, Pascale was an associate in the Investment Funds, Advisers & Derivatives group at Sidley Austin LLP in Chicago. Pascale received a B.S. in Psychology from Duke University and a J.D. from Harvard Law School.
Vanessa Tollefson oversees the Client Operations team with Makena’s Client Strategy Group. She is responsible for investor communication and reporting while supporting business development efforts. Prior to joining Makena, Vanessa was the Director of Compliance, Regulatory and Investor Reporting at Coastland Capital. Vanessa holds a B.A. in International Relations from the University of Southern California.
Mike Tremmel is Makena’s Chief Financial Officer. A Managing Director, Mike is also a member of the firm’s Management Committee. As CFO, Mike is responsible for the oversight of the financial operations of the firm, managing all operational processes for the Makena investment strategies, including financial policies, audits, risk controls and service provider relationships. Prior to joining Makena in 2009, Mike was the Chief Financial Officer at Pantera Capital Management, a global macro hedge fund in San Francisco, where he oversaw the operational, trading, accounting, and tax functions. Before joining Pantera, Mike was Senior Audit Manager with Ernst and Young, where he served for six years in San Francisco and the Cayman Islands. Mike received a Bachelor of Management degree with a major in Accounting from the University of Lethbridge, Canada, and is a CPA in California (inactive) and British Columbia, Canada.
Jonathan Van Gorp, a Managing Director, is responsible for leading portfolio management and partner selection across Makena’s Real Assets investments. He is also a member of the firm’s Investment Committee. In addition to his duties overseeing real assets investments, Jonathan co-leads the firms sustainability efforts as they relate to investment diligence and oversight. Prior to joining Makena, Jonathan was a Vice President at Paxion Capital, a Bay Area family office, where he oversaw the buildout of the real assets portfolio. Previously, Jonathan was a Director at the Stanford Management Company, overseeing domestic and international real asset investments. Jonathan began his career at Bank of America Merrill Lynch in the Real Estate Investment Banking Group. Jonathan received a B.B.A. in Finance from the University of Georgia.
Sarah Walker is responsible for advising Makena’s Endowment and Foundation (E&F) clients in the integration and implementation of alternative asset strategies into existing portfolios. Previously, Sarah was an associate in Makena’s Client Service group, where she was responsible for the firm’s early client relations efforts. Previously, Sarah worked as a consultant in the Investor Relations group at Hall Capital Partners, an investment firm based in San Francisco. Sarah began her career as an Investor Relations Associate at Pantera Capital Management, where she was solely responsible for managing all marketing and investor relations activities. Sarah earned her M.B.A. from the Walter A. Haas School of Business at the University of California, Berkeley. Sarah holds a B.A. degree in History, with honors, from Yale University.
