ML has a legit PE investment platform??

I've been speaking to a few people in the know and ML apparently has a co-investment, FoF, and direct deal platform to deploy various institutional/PWM/sovereign capital they are managing. Apparently they establish sorta "mini-funds" within ML for various large clients to pool together money for...not quite a separate account, per se, but also not a traditional close-ended fund available to just anyone. Does anybody know more about this group? I've been searching...appears they keep a low profile or call themselves by something different.