Perpetual acquires Laminar Capital
Perpetual has acquired specialist debt and advisory business Laminar Capital with $8 billion in funds under management and advice.
The acquisition also included specialist fixed income digital platform, Treasury Direct, which had $21 billion in assets under administration.
In a statement to the Australian Securities Exchange (ASX), Perpetual said Treasury Direct would help expand Perpetual Corporate Trust’s digital presence and give it access to specialist capabilities.
Richard McCarthy, Perpetual Corporate Trust group executive, 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 market solutions to our existing and future clients, while accelerating the build out of our digital product offering.”
Laminar would retain 13 specialists, including nine advisers and founding principal, Cameron Rae.
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.