MML Capital Partners Closes Debut Continuation Fund Significantly Oversubscribed at Over €630m
PE FORUM > Blog > Fundraising News > MML Capital Partners Closes Debut Continuation Fund Significantly Oversubscribed at Over €630m
– MML Capital announced the successful closing of MML Dorchester SCSp, a new continuation fund with over €630m of investor commitments
– The continuation fund was established to acquire interests in two leading European business services companies held across prior MML Partnership Capital funds, alongside other shareholders
– Under MML’s ownership, both companies more than doubled EBITDA through strong organic growth and strategic acquisitions
– Existing limited partners were offered the option to realise attractive returns or roll over their investment into the next phase of growth
– The transaction ensures continued ownership, backing and strategic support from MML and the companies’ management teams
– The continuation fund provides additional time and capital to support further expansion and value creation in the next ownership cycle
– The investor base included a mix of existing and new investors
– Ian Wallis, Co-CEO of MML, highlighted the strength of the partnership with the companies and management teams and thanked investors for their continued support
– Jonty Graham, Head of Investor Relations at MML, noted that MML achieved five successful fund closes in 2025, four of which were oversubscribed and reached hard cap
– Across these 2025 vehicles, MML raised over €2.44 billion and welcomed 40 new limited partners
– Edward Holdsworth of HarbourVest Partners emphasized HarbourVest’s focus on providing tailored continuation solutions to high-quality GP portfolios
– Philippe Ferneini of StepStone Group underlined StepStone’s strategy of partnering with high-conviction sponsors and investing in high-quality assets with compelling growth potential
– The continuation fund was established to acquire interests in two leading European business services companies held across prior MML Partnership Capital funds, alongside other shareholders
– Under MML’s ownership, both companies more than doubled EBITDA through strong organic growth and strategic acquisitions
– Existing limited partners were offered the option to realise attractive returns or roll over their investment into the next phase of growth
– The transaction ensures continued ownership, backing and strategic support from MML and the companies’ management teams
– The continuation fund provides additional time and capital to support further expansion and value creation in the next ownership cycle
– The fund closed significantly oversubscribed
– HarbourVest Partners acted as Senior Lead Investor and StepStone Group as Co-Lead Investor
– The investor base included a mix of existing and new investors
– Ian Wallis, Co-CEO of MML, highlighted the strength of the partnership with the companies and management teams and thanked investors for their continued support
– Jonty Graham, Head of Investor Relations at MML, noted that MML achieved five successful fund closes in 2025, four of which were oversubscribed and reached hard cap
– Across these 2025 vehicles, MML raised over €2.44 billion and welcomed 40 new limited partners
– Edward Holdsworth of HarbourVest Partners emphasized HarbourVest’s focus on providing tailored continuation solutions to high-quality GP portfolios
– Philippe Ferneini of StepStone Group underlined StepStone’s strategy of partnering with high-conviction sponsors and investing in high-quality assets with compelling growth potential