Perpetual has acquired specialist debt and advisory business Laminar Capital as well as a digital platform that enables clients to manage multiple investment and debt portfolios on a single platform.
Laminar has $8.0 billion in funds under management and the deal also includes its specialist fixed income digital platform, Treasury Direct, with $21.0 billion of assets under administration on its platform.
Perpetual Chief Executive Officer and Managing Director, Rob Adams said: “In Laminar we’ve identified a fast-growing debt markets and advisory business with a compelling digital capability. A capability that provides us with a unique opportunity to accelerate Perpetual Corporate Trust’s (PCT) position as a specialist fiduciary and digital solutions provider to the banking and financial services industry.”
Group Executive, Perpetual Corporate Trust, Richard McCarthy, said: “Over time, we have seen Laminar successfully establish itself in the mid-markets sector, developing and delivering debt markets and digital solutions to key client segments.
“One of the innovative and attractive components of Laminar’s business is its proprietary investment management platform, Treasury Direct which enables clients to manage multiple investment and debt portfolios on a single platform.
“The combination of our two digital platforms, Perpetual Intelligence and Treasury Direct, will provide the ability to deliver a broader range of digital, treasury and debt markets solutions to our existing and future clients, while accelerating the build out of our digital product offering.”
The acquisition of Laminar will also provide Perpetual Corporate Trust access to new specialised capabilities, including Laminar’s ESG Risk Score, which is integrated into their Treasury Direct digital platform to support the public and mutual bank sector.
As a result of the acquisition of Laminar, PCT’s Data and Analytics Solutions business, which was previously part of PCT’s Debt Markets Services business, will become a stand-alone division of PCT and will be known as Perpetual Digital, PCT’s innovation company. This will bring together all PCT’s digital assets, added with Laminar’s Treasury Direct digital platform, to create a specialist business focussed on providing innovative digital, treasury, debt markets and advisory solutions to clients.
Laminar will retain its team of thirteen specialists, including nine experienced advisers. Laminar Founding Principal and Managing Director, Cameron Rae, will also continue with the business.
Perpetual will host an investor day next month to discuss the plans.