Market Chatter: Sumitomo Mitsui Trust Bank Buys Minority Stake in Indian Private Equity Firm One Planet Partners

MT Newswires Live10-29 18:03

Sumitomo Mitsui Financial Group (TYO:8316) subsidiary Sumitomo Mitsui Trust Bank purchased a minority stake in Indian private equity firm One Planet Partners and will anchor its first fund, Bloomberg News reported Thursday.

Founded in 2024, One Planet expects to invest about 30 billion Indian rupees over the next five years in assets spanning energy transition, mobility and manufacturing sectors, the report said.

Shares of Sumitomo Mitsui Financial Group added nearly 3% at market close.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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