Form 8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

Date of report (Date of earliest event reported)            May 15, 2007
                                                --------------------------------

                           MACC PRIVATE EQUITIES INC.
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             (Exact Name of Registrant as Specified in Its Charter)


           DELAWARE                    0-24412                   42-1421406
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(State or Other Jurisdiction         (Commission                (IRS Employer
      of Incorporation)              File Number)            Identification No.)


101 Second Street SE, Suite 800, Cedar Rapids, Iowa                     52401
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    (Address of Principal Executive Offices)                          (Zip Code)



                                 (319) 363-8249
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              (Registrant's Telephone Number, Including Area Code)



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          (Former Name or Former Address, if Changed Since Last Report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

| |  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

| |  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

| |  Pre-commencement communications pursuant to Rule 14d-2(b)under the Exchange
     Act (17 CFR 240.14d-2(b))

| |  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))





     Item 8.01 Other Events.

     The Registrant issued a press release on May 15, 2007 regarding its results
from operations in the second quarter of fiscal year 2007.

     A copy of the press release has been filed with this Current Report on Form
8-K as Exhibit 99.1, and is incorporated herein by reference.

     Item 9.01. Financial Statements and Exhibits.

     (c) Exhibits

          99.1 Press Release dated May 15, 2007.





                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

     Date: May 15, 2007

                                              MACC PRIVATE EQUITIES INC.


                                              By:     /s/ David R. Schroder
                                                 -------------------------------
                                                 David R. Schroder
                                                 President and Secretary





                                  Exhibit Index

Exhibit
Number            Description

99.1         Press Release dated May 15, 2007.