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B. G., Opalesque Geneva: Sumitomo Mitsui Trust Bank has agreed to start a business alliance with Energy Capital Partners (ECP), a US-based private equity infrastructure manager.
The Bank will also make a non-voting investment in an affiliate of Energy Capital Partners, and invest in a flagship fund managed by ECP, ECP Infrastructure V, LP. This fund primarily invests in unlisted companies in the electrical power, energy transition, and environmental infrastructure sectors in North America through the acquisition of control rights. The final closing is scheduled for June 2023, with a target fund size of US$4bn (approximately JPY530bn).
SuMi TRUST Bank will not be involved in the management of ECP or the operation of ECP's funds, but it will receive a portion of the management fees and carried interests of certain funds managed by ECP as a return on investment.
Through this strategic partnership, Sumitomo Mitsui Trust Bank aims to expand and enhance solutions to support domestic corporate clients' energy transitions by leveraging the expertise and investment know-how in the electrical power, energy, and environmental infrastructure sectors that ECP has cultivated in the US.
Headquartered in Tokyo, Japan, Sumitomo Mitsui Trust Bank is a consolidated subsidiary of Sumitomo Mitsui Trust Holdings, Inc. It provides financial solutions and manages several fi...................... To view our full article Click here
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