A method of preparing a milk lipid composition comprising total cholesterol in an amount of 4-12% w/w relative to total lipid and comprising total lipid in an amount of 10-60% w/w relative to total solids, the method comprising the steps of: 1) providing a whey from mammal milk, and optionally subjecting the whey to one or more steps of - removal of particles larger than 0.8 micron, - concentration, - dilution, and - pH adjustment to obtain a pH in the range of 3-8, thereby providing a liquid feed having a pH in the range of 3-8, 2-a) subjecting the liquid feed to a first microfiltration step (1MF-a) thereby providing a first MF retentate (1MFR-a) and a first MF permeate (1MFP-a), wherein 1MF-a preferably is operated to provide a 1MFR-a having a particle mode size of at least 200 nm and/or a 1MFP-a having a particle mode size of at most 190 nm, 3-a) subjecting the 1MFP-a or a concentrate or dilution thereof to a second MF step (2MF-a) to provide a second MF retentate (2MFR-a) and a second MF permeate (2MFP-a), wherein particles of larger hydrodynamic diameter are transferred to the permeate during 1MF-a than during 2MF-a, and wherein 2MF-a preferably is operated to provide a 2MFR-a having a particle mode size of at least 165 nm and/or a 2MFP-a having a particle mode size of less than 165 nm, 4-a) optionally, concentrating and/or drying the 2MFR-a, and preferably, wherein the MF membranes and conditions used during 1MF-a and 2MF-a provide a 2MFR-a that has a content of native BLG of at most 40% relative to total protein, and wherein the milk lipid composition is the 2MFR-a or, if step 4-a) is used, the concentrate or dried product resulting from step 4-a). 1) providing a whey from mammal milk, and optionally subjecting the whey to one or more steps of - removal of particles larger than 0.8 micron, - concentration, - dilution, and - pH adjustment to obtain a pH in the range of 3-8, thereby providing a liquid feed having a pH in the range of 3-8, - removal of particles larger than 0.8 micron, - concentration, - dilution, and - pH adjustment to obtain a pH in the range of 3-8, 2-a) subjecting the liquid feed to a first microfiltration step (1MF-a) thereby providing a first MF retentate (1MFR-a) and a first MF permeate (1MFP-a), wherein 1MF-a preferably is operated to provide a 1MFR-a having a particle mode size of at least 200 nm and/or a 1MFP-a having a particle mode size of at most 190 nm, 3-a) subjecting the 1MFP-a or a concentrate or dilution thereof to a second MF step (2MF-a) to provide a second MF retentate (2MFR-a) and a second MF permeate (2MFP-a), wherein particles of larger hydrodynamic diameter are transferred to the permeate during 1MF-a than during 2MF-a, and wherein 2MF-a preferably is operated to provide a 2MFR-a having a particle mode size of at least 165 nm and/or a 2MFP-a having a particle mode size of less than 165 nm, 4-a) optionally, concentrating and/or drying the 2MFR-a, and preferably, wherein the MF membranes and conditions used during 1MF-a and 2MF-a provide a 2MFR-a that has a content of native BLG of at most 40% relative to total protein, and wherein the milk lipid composition is the 2MFR-a or, if step 4-a) is used, the concentrate or dried product resulting from step 4-a).