Canada’s Peloton Capital closes debut fund on $550m, backers include $73.3bn-managing IMCO

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Canadian private equity firm Peloton Capital has closed its debut fund at $550m thanks to LPs including $73.3bn asset-managing Investment Management Corporation of Ontario, First National Financial Corporation chairman and CEO Stephen Smith and Canadian banks.

The firm has already invested nearly half of the committed capital across five companies in the healthcare service and financial services sectors. Three of the deals were closed during the pandemic and the firm said they are currently evaluating several more opportunities.

Peleton said it is aiming to build a concentrated portfolio of seven to ten platform investments from the first fund, focusing on well-established, profitable companies that have $5m to $40m of EBITDA and “present compelling opportunities to build long-term, sustainable value”.

Mike Murray, managing partner at Peloton Capital Management, said, “Our differentiated strategy and approach to investing has proven to be quite powerful in the market. It has enabled us to attract world class investors in the fund and it has positioned us as a very attractive partner to the founders of the companies we are investing in.”

Peloton typically invests in financial services, health care, and consumer markets.

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