Sumitomo Mitsui Trust Bank (SuMiTB), Japan's leading trust bank, announced a long-term strategic partnership worth over $2 billion with Morrison, a global infrastructure investment manager. As part of this collaboration, SuMiTB will initially commit $500 million to Morrison’s global private market Core Plus and Value-add strategies. This move aims to facilitate the deployment of Japanese capital into high-quality infrastructure opportunities worldwide, addressing the increasing demand from Japanese investors for access to global private markets and infrastructure.
The partnership also includes a long-term collaboration agreement exceeding $1.5 billion. This agreement will involve mutual efforts to raise third-party capital for each other’s infrastructure investment products in their respective home markets, as well as the joint development of new infrastructure investment products for both Japanese and global investors. Manatomo Yoneyama, President of Sumitomo Mitsui Trust Bank, highlighted that this collaboration will aid Japanese investors in accessing global infrastructure opportunities while accelerating SuMiTB's expansion in overseas infrastructure markets.
Furthermore, SuMiTB will acquire a 15% ownership stake in Morrison through a new equity issuance. This primary equity infusion will provide growth capital to accelerate Morrison's global expansion. Paul Newfield, CEO of Morrison, emphasized that this strategic partnership, Morrison's only one of its kind, strengthens its capital base, broadens its distribution reach, and supports its next phase of growth while maintaining its established investment focus and independence.
Morrison, established in 1988 in Wellington, New Zealand, manages over $30 billion in assets as of March 31, 2026. The partnership is subject to regulatory approvals and customary closing conditions, with the parties expecting to finalize the arrangements before the end of 2026. This collaboration leverages SuMiTB's strong domestic corporate relationships and market-leading Japanese infrastructure investment capabilities to connect Japanese capital with global infrastructure opportunities.
