The investments are a powerful endorsement of MML’s unique investment strategy and significantly enhance MML’s global distribution capabilities. The independent firm will continue to be run and majority owned by co-CEOs, Bal Johal and Ian Wallis, and the MML Partners.
Headquartered in London, MML also has offices in Dublin, New York and Paris. MML, which recently won multiple awards including the prestigious European Mid-Cap Private Equity Fund of the Year 2022, has built a reputation for providing bespoke, tailored solutions to mid-market businesses, in turn providing a unique blend of ‘private equity returns with downside protection’ to its own investors.
The strategic investment follows MML’s long unbroken period of exceptional performance across their Partnership Capital strategies, including their new focus on Value-Added Infrastructure opportunities led by Andrew Honan.
The investments also facilitate the withdrawal from the business of Rory Brooks CBE, the current Chair of MML, who co-founded the business in 1988. Rory will now concentrate his focus on philanthropy and public service.
Bal Johal, co-CEO of MML, said:
“We are excited to enter this next phase of MML’s evolution. Accelerating growth will provide exceptional career opportunities to our team across our core mid-market private equity strategies as well as our newer value-added infrastructure focus. Both Wafra and ISCG fully understand that our people and culture are the key to maintaining our extraordinary levels of performance.”
Ian Wallis, co-CEO of MML, added:
“Equally, we are fortunate to have an excellent set of long-standing investors; we value those highly and regard them as part of the fabric of our own business. This endorsement from Wafra and ISCG reinforces the trust LPs have long placed in our team and investment strategy. With their strategic and distribution capabilities, both Wafra and ISCG will support us to further capitalise on outstanding growth and investment opportunities.”
Rory Brooks said:
“It has been a great privilege to have started and guided MML for these past 34 years. I take pride in what MML has achieved throughout this time. Under Bal’s and Ian’s leadership, and now with the support of ISCG and Wafra, MML is excellently placed going forward.”
Houlihan Lokey served as financial adviser to MML, and Sidley Austin LLP and Paul Hastings LLP served as legal counsel to MML. Fried Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Wafra and ISCG.