Japan’s Sumitomo Mitsui Trust Bank buys stake in Indian PE firm

What happened: Sumitomo Mitsui Trust Bank bought a minority stake in Indian private equity firm One Planet Partners and will anchor its first fund. Key numbers: One Planet expects to deploy about 30 billion rupees ($315 million) over five years. Why it matters: The deal underscores Japanese institutional investor interest in India, following stake purchases by Sumitomo Mitsui Financial Group and Mizuho Financial Group. One Planet will target mid-market firms it says are underserved by institutional capital.

Sumitomo Mitsui Trust Bank bought a minority stake in Indian private equity firm One Planet Partners and will anchor its first fund.

The deal underscores Japanese institutional investor interest in India, following stake purchases by Sumitomo Mitsui Financial Group and Mizuho Financial Group. One Planet will target mid-market firms it says are underserved by institutional capital.