Sumitomo Mitsui Trust Inks $2 Billion Partnership With Morrison

Sumitomo Mitsui Trust Inks $2 Billion Partnership With Morrison Sumitomo Mitsui Trust Bank will take a 15% stake in New Zealand-based infrastructure investor Morrison, as part of a new strategic partnership to provide its Japanese customers access to fresh investment opportunities. Sumitomo Mitsui will subscribe to new capital and have a director on Morrison’s board, the two firms said in a statement Tuesday. The statement did not provide details on the equity raising. The Japanese bank will also invest $500 million in infrastructure investment funds managed by Morrison and has agreed future collaboration aimed at jointly increasing assets under management by at least $1.5 billion, they said.