Assembly having at least one direct-current transmission link, in particular a high-voltage direct-current transmission link, a voltage limiting device and a multilevel power converter, wherein the multilevel power converter comprises at least one phase module, wherein the phase module comprises an AC voltage terminal, a first DC voltage terminal and a second DC voltage terminal, the voltage limiting device is electrically connected to the first DC voltage terminal and to the second DC voltage terminal and the voltage limiting device is configured to limit a voltage that occurs between the first DC voltage terminal and the second DC voltage terminal depending on the polarity of said voltage, wherein - the first DC voltage terminal and the second DC voltage terminal are connected to the direct-current transmission link, in particular the high-voltage direct-current transmission link, - wherein the direct-current transmission link comprises two different conductor types (510, 512), which differ with regard to their capacitance per unit length, - wherein the different conductor types are an overhead line, a cable and/or a gas-insulated line, and wherein - the voltage limiting device is configured so that it limits as a negative voltage only a voltage of one polarity that occurs between the first DC voltage terminal and the second DC voltage terminal, which results from reflections between the various conductor types, and in particular leaves substantially unchanged as a positive voltage a voltage of the opposite polarity that occurs between the first DC voltage terminal and the second DC voltage terminal, - the voltage limiting device comprises at least one semiconductor valve (54_1), in particular a series circuit formed by semiconductor valves (54_1,..., 54_n), or a controllable spark gap, and - an electrical resistor is connected in series with the at least one semiconductor valve (54_1,..., 54 n) or in series with the spark gap, wherein - the electrical resistor is a varistor. - the first DC voltage terminal and the second DC voltage terminal are connected to the direct-current transmission link, in particular the high-voltage direct-current transmission link, - wherein the direct-current transmission link comprises two different conductor types (510, 512), which differ with regard to their capacitance per unit length, - wherein the different conductor types are an overhead line, a cable and/or a gas-insulated line, and - the voltage limiting device is configured so that it limits as a negative voltage only a voltage of one polarity that occurs between the first DC voltage terminal and the second DC voltage terminal, which results from reflections between the various conductor types, and in particular leaves substantially unchanged as a positive voltage a voltage of the opposite polarity that occurs between the first DC voltage terminal and the second DC voltage terminal, - the voltage limiting device comprises at least one semiconductor valve (54_1), in particular a series circuit formed by semiconductor valves (54_1,..., 54_n), or a controllable spark gap, and - an electrical resistor is connected in series with the at least one semiconductor valve (54_1,..., 54 n) or in series with the spark gap, wherein - the electrical resistor is a varistor.