07:40 PM EDT, 07/07/2026 (MT Newswires) -- Sumitomo Mitsui Trust Bank will take a 15% stake in New Zealand-based infrastructure investor Morrison as part of a strategic partnership, Bloomberg reported Tuesday.

The bank will subscribe to new capital, hold a board seat at Morrison, and invest $500 million in infrastructure funds managed by the firm, according to report.

The companies also agreed to future collaboration aimed at jointly increasing assets under management by at least $1.5 billion, the report said.