A system for at least partially de-aerating a hydraulic fluid in a transmission includes a plurality of transmission components, a first reservoir for receiving de-aerated hydraulic fluid, a first pump in communication with the first reservoir and operable to pump the de-aerated hydraulic fluid to the plurality of transmission components, a second reservoir for receiving aerated hydraulic fluid from the plurality of transmission components, a second pump in communication with the second reservoir and operable to pump the aerated hydraulic fluid from the second reservoir, and a separator for receiving the aerated hydraulic fluid from the second pump and operable to de-aerate the aerated hydraulic fluid and communicate the de-aerated hydraulic fluid to the first reservoir.