Japan’s Sumitomo Mitsui Trust Bank has acquired a minority stake in Indian private equity firm One Planet Partners and agreed to anchor the firm’s inaugural fund, which is targeting investments of approximately INR30bn over the next five years, according to Private Equity Wire.
One Planet Partners reportedly plans to invest across energy transition, mobility and manufacturing while targeting mid-market Indian businesses that have historically attracted less institutional capital than larger companies, according to Private Equity Wire.
Minority stake and anchor commitment
Sumitomo Mitsui Trust Bank’s transaction includes both the acquisition of a minority stake in One Planet Partners and an agreement to act as anchor investor in One Planet’s inaugural fund, according to Private Equity Wire.
The inaugural fund is described as “targeting investments of approximately INR30bn over the next five years,” and the report attributes the details to Bloomberg.
Strategy: mid-market focus and real-asset ticket sizes
One Planet reportedly plans to invest in energy transition, mobility and manufacturing, with a stated focus on mid-market Indian businesses that have historically attracted less institutional capital than larger companies.
The firm expects to make investments of between $25m and $75m in real assets across its chosen sectors, according to the same report.
Firm formation and first deal
One Planet Partners was founded in 2024 by former Tata Group executives Mukund Rajan and Bobby Pauly, alongside former McKinsey partner Mrinalini Mirchandani and former Blackstone executive Sheetal Thakkar, according to Private Equity Wire.
One Planet completed its first investment in mobility company Yulu Bikes in August, according to the report.
Additional fundraising plans and targeted returns
One Planet reportedly plans to raise additional capital from Japanese, Asian and Indian institutional investors, with gross returns targeted at 25% to 30% to help offset currency depreciation for international investors, according to Private Equity Wire.
The investment is described as reflecting growing Japanese institutional interest in India’s private markets, particularly in sectors benefiting from economic growth and infrastructure development.
Widely known context: an “anchor” investor is typically an early or cornerstone LP that commits to a new fund to support its initial fundraising process.
