A hydraulic control circuit for a transmission is provided including a source of pressurized fluid and at least one selectively engageable torque transmitting mechanism. At least one latching valve is provided in communication with the source and is operable to selectively communicate the pressurized fluid to effect engagement of the at least one torque transmitting mechanism. The at least one latching valve is operable to maintain engagement the at least one torque transmitting mechanism irrespective of the presence of the pressurized fluid. A valve is in fluid communication with the source. A lubrication circuit is provided and is operable to lubricate the transmission. The valve is operable to variably communicate the pressurized fluid to the lubrication circuit. A transmission incorporating the hydraulic control circuit is also disclosed.