Sumitomo Mitsui Trust Bank backs Indian private equity firm One Planet Partners
Japan's Sumitomo Mitsui Trust Bank has acquired a minority stake in Indian private equity firm One Planet Partners and agreed to anchor its inaugural fund, which is targeting investments of approximately INR30bn over the next five years, according to a report by Bloomberg.
Sumitomo Mitsui Trust Bank has purchased a minority share in Indian private equity firm One Planet Partners, with the bank also agreeing to lead its first fund. Bloomberg reported that the fund aims to invest around INR30bn over the next five years. One Planet Partners plans to focus investments on energy transition, mobility, and manufacturing sectors, targeting mid-sized Indian businesses that have not received as much institutional capital in the past.
The firm, founded in 2024 by executives from the Tata Group, expects to invest between $25m and $75m in real assets across the selected industries. One Planet Partners' first investment was in mobility company Yulu Bikes, which took place in August. The company intends to raise further capital from Japanese, Asian, and Indian institutional investors, with the goal of achieving gross returns of 25% to 30%.
This investment highlights increasing Japanese institutional involvement in India's private markets, particularly in areas that can benefit from economic growth and infrastructure development.
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