Mumbai, Oct 29 (PTI) Asset management firm One Planet Partners (OPP) on Thursday announced it will raise a Rs 3,000

Mumbai, Oct 29 (PTI) Asset management firm One Planet Partners (OPP) on Thursday announced it will raise a Rs 3,000

Mumbai, Oct 29 (PTI) Asset management firm One Planet Partners (OPP) on Thursday announced it will raise a Rs 3,000

Mumbai, Oct 29 (PTI) Asset management firm One Planet Partners (OPP) on Thursday announced it will raise a Rs 3,000 crore private equity fund to invest in energy transition, mobility and manufacturing-led industrial expansion.

     The platform, founded by ex-Tata group executive Mukund Rajan and others, also announced a partnership with Sumitomo Mitsui Trust Bank (SMTB), under which the Japanese lender has picked up a stake in OPP and will anchor a dedicated private equity fund managed by OPP, an official statement said.

     "With strong institutional support, our ambition is to build a world-class investment platform focused on high-growth businesses at the intersection of India's economic expansion, energy transition, and industrial transformation," Rajan, the founder and chairperson of OPP, said.

     OPP, which is aiming for the first close of the Rs 3,000-crore fund in mid-2027, will be focusing on high-growth mid-market businesses, providing scale-up capital of Rs 100-500 crore to enterprises with attractive unit economics and revenues of Rs 200-2,000 crore, the statement said.

     Kazuya Yoneda, general manager in the equity investment department of SMTB, said India being a compelling long term investment destination and the OPP team's record led it to make the call.

     "We look forward to building a long-term partnership across asset classes," Yoneda added.

     SMTB's global scale, investment expertise and patient capital will be tied up with OPP's market access, thematic insights and business-building experience, OPP Founder and Managing Partner Bobby Pauly said.

     Pauly was also associated with the Tata Group earlier. Other founding partners include McKinsey's former senior partner Mrinalini Mirchandani, who led the consultancy's private equity practice in India, and Sheetal Thakkar, who was previously associated with Blackstone.

     OPP aims to combine growth capital with active ownership and operational expertise to help businesses scale and strengthen their competitive positioning, the statement said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)