Perpetual Ltd has acquired capital markets business Laminar Capital, a part of which handles outsourced treasury management for a number of small ADIs.

Laminar’s fixed income digital platform Treasury Direct, which has A$21 billion of assets under administration, provides treasury management services to a range of small institutional clients, including boutique investment managers, ADIs, local government bodies, universities, wealth advisers and not-for-profits.

Laminar was established in 2009. It also has a debt capital markets business and an advisory business with $8 billion of funds under management.

Perpetual said in a statement that it was attracted to Laminar because of the strong growth of its business and its digital capability.

This capability provides Perpetual with “a unique opportunity to accelerate Perpetual Corporate Trust’s position as a specialist fiduciary and digital solutions providers to the banking and financial services industry”.

Perpetual will combine its own platform, Perpetual Intelligence, with Treasury Direct in a new business, Perpetual Digital.

Laminar founder and managing director Cameron Rae will continue with the business.