Ropes & Gray Advises MLC Private Equity on $762 Million Secondary Fund

Ropes & Gray advised MLC Private Equity, a division of MLC Asset Management Pty Limited, one of Australia’s largest investment managers, on a significant investment into its private equity capability and the creation of a new private equity investment vehicle. The transaction was announced on April 18 and will provide access to additional future private equity investment opportunities for global institutional investors.

MLC PE Partners is comprised of PE assets across a diversified portfolio of global middle-market PE fund positions and co-investments. The portfolio is diversified across several industries such as IT, healthcare, technology, and consumer-focused sectors, across North America, Europe, and the UK. The managed secondary transaction was anchored by funds managed by StepStone, a global private markets investment firm, which served as the lead investor.

MLC Private Equity is one of the most experienced global private equity managers in Australia with over 25 years’ experience investing in private equity.

The Ropes & Gray team was led by alternative asset opportunities practice chair Isabel Dische and included tax partners Daniel Kolb and Brandon Dunn and asset management partner Laura Hirst.