MML Capital Partners

MML Capital Partners is an international mid-market private equity firm that specializes in providing growth capital to established companies in Europe and the United States. The firm partners with management teams to support their expansion plans by offering capital for organic growth and acquisitions, both locally and internationally. MML Capital has invested over $2 billion across 150 companies in 35 countries, managing assets totaling approximately $2.7 billion.

Founded in 1988, MML Capital focuses on sectors such as technology, healthcare, industrial manufacturing, consumer goods, business services, energy, media, telecommunications, financial services, retail, transportation, logistics, education, real estate, and leisure and hospitality. The firm invests up to €50 million in each business, often taking a non-controlling stake, to facilitate financing for acquisitions, support organic growth, or consolidate the shareholder base while retaining or enhancing the management team’s equity in the business. Historically, 70% of its capital has been invested into debt-like instruments, with the balance in equity, allowing management to maximize their equity stake and control.

MML Capital's investment strategy involves backing owner-managers and providing tailored solutions designed to support growth and international ambitions. This approach maximizes alignment with management teams and provides a market-leading risk/return profile to MML’s investors. The firm has a track record of assisting its portfolio companies in formulating and executing cross-border growth strategies, with a team of 14 investment professionals operating from offices in London, Paris, and the United States. MML Capital has been recognized for its bespoke investment approach, emphasizing understanding the unique challenges and aspirations of its partners, delivering not only capital but also valuable experience and a global perspective.

In December 2024, MML Capital Partners received passive minority equity GP Stake investments from Investcorp and Wafra’s Capital Constellation, supporting the firm's long-term growth and enhancing its global distribution capabilities. The independent firm continues to be majority-owned and run by co-CEOs Bal Johal and Ian Wallis. MML Capital's success in fundraising reflects its consistently strong performance across its various Partnership Capital strategies, including the launch of a dedicated value-added Infrastructure strategy led by Andrew Honan.

In June 2025, MML Capital closed its latest fund, MML Partnership Capital VIII, at its hard cap of €1 billion, almost 50% larger than its predecessor Fund VII. The fund received commitments from a diverse cohort of institutional investors from Europe, North America, South America, and Asia, including sovereign wealth funds, insurance companies, public and private pension funds, asset managers, endowments, foundations, and family offices. The success of this fundraising reflects the consistently strong performance that MML has recorded over a series of funds, including two exits that returned +10.0x MOIC in recent years. Over the past 12 months alone, MML has announced a total of eight exits across the group at an average return of 4.1x MOIC, generating more than €600 million of distributions. In the same period, MML deployed in excess of €500 million across 10 new platform investments.

MML Capital's investment philosophy centers on providing tailored solutions to middle-market businesses, offering a unique blend of private equity returns with downside protection to its investors. The firm's strategic investments have supported the growth and development of numerous companies across various sectors, demonstrating its commitment to fostering business transformation and expansion.

MML Capital's global presence, with offices in London, Paris, New York, and Dublin, enables it to effectively support its portfolio companies in navigating the complexities of growth and executing cross-border strategies. The firm's experienced team and strategic approach have established it as a leading player in the mid-market private equity space, dedicated to delivering value to both its investors and portfolio companies.