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Alternative Market Briefing

Ontario Teachers' alums launch Peloton Capital Management

Friday, November 02, 2018

Bailey McCann, Opalesque New York:

Steven Smith, CEO of First National Financial Corporation and several former members of the Ontario Teachers' Pension Plan have come together to launch a new middle market private equity firm in Canada. Peloton Capital Management will focus on investments in financial services, healthcare, and consumer companies in North America.

The team includes managing partners - Steve Faraone and Mike Murray - who worked together for more than a decade at Ontario Teachers' Pension Plan (OTPP). Steven Smith will Chairman at Peloton, and has also made an anchor commitment. Jim Leech, Chancellor of Queen's University and former CEO of OTPP, is taking on the role of Chair of Peloton's Advisory Board.

Peloton is already on the hunt for new investments funded initially with partner capital and expects to go to market to raise a comingled fund over the next year, Farone told Opalesque in an interview by phone. The firm will focus on well-established companies that have $10MM to $40MM of EBITDA in their target sectors.

According to Farone, the team at Peloton believes that they can stand out in an increasingly crowded middle market by focusing on sectors where they already have deep expertise and a number of professional relationships. Peloton also wants to hold on to its portfolio companies for longer than what you see in a typical 10-year private equity fund.

"We want to be a source of long-term capital for entrepreneurs, so we're......................

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