Peloton Capital Management
Peloton Capital Management is a Toronto-based private equity firm managing over $1.3 billion across two funds, providing patient long-term capital (8-12 year horizon) to North American middle-market companies with $5M-$40M EBITDA in Healthcare, Financial Services, and Consumer verticals.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Peloton Capital Management does
Peloton Capital Management (PCM) is a Toronto-based Canadian private equity firm founded in November 2018 by Steve Faraone and Mike Murray, both former Managing Directors at Ontario Teachers' Pension Plan (OTPP). The firm invests patient capital with an 8-12 year horizon in North American middle-market companies generating $5M-$40M of EBITDA, focused on three core verticals: Healthcare Services, Financial Services, and Consumer. PCM differentiates itself from conventional buyout funds through its long-term orientation, sector depth, and a relationships-first culture that emphasizes collaboration with founders and management teams rather than short-term exit pressure. The firm manages in excess of $1.3 billion across two successor funds (Fund I closed at $550M in July 2021 and Fund II closed at $550M in September 2024) and has built a portfolio of 11 platform companies including 123Dentist, P3 Veterinary Partners, The Fertility Partners, Glass Lewis, EHN Canada, Unison Risk Advisors, Victoria Park Medispa, Billyard Insurance Group, Trilogy Financial Services, Lakefield Veterinary Group, and Starfish Specialty Insurance.
PCM operates a traditional private equity fund management business model, generating revenue through two primary streams: (1) recurring management fees charged as a percentage of committed capital under management across Fund I and Fund II, and (2) carried interest (performance fees) earned on successful exits of portfolio companies over the long-term hold period. Capital is raised directly from institutional investors, financial institutions, and family offices through limited partner commitments, while investment opportunities are sourced primarily through deep sector relationships, advisory board connections, and the firm's reputation in the market rather than through competitive auction processes. The firm is led by Co-Founders and Managing Partners Steve Faraone and Mike Murray, with Stephen Smith (Chairman and CEO of First National Financial Corporation) serving as Chairman and providing the anchor C$150M+ commitment to Fund I. The core investment team of 20-30 professionals is supported by a dedicated Value Creation function, Finance and Operations teams, and an Advisory Board chaired by former OTPP CEO Jim Leech.
PCM does not develop proprietary technology products — it is a capital and partnership platform rather than a software or technology business. The firm's value-add to portfolio companies centers on patient capital, sector expertise, extensive industry relationships, M&A capabilities for add-on acquisitions, and operational value creation support through its in-house Value Creation team. Distribution of investment offerings is conducted via direct LP relationships (enterprise sales), while portfolio companies distribute their respective end-market services (dental care, veterinary care, mental health services, insurance brokerage, wealth management, medical aesthetics, etc.) through their own vertical-specific channels. PCM has been a signatory to the UN Principles for Responsible Investment (PRI) since December 2020, embedding ESG considerations into its investment process.
Peloton Capital Management firmographics
Firmographics- Name
- Peloton Capital Management
- Legal name
- Peloton Capital Management Inc.
- Website
- https://pelotoncapitalmanagement.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Peloton Capital Management is a Toronto-based private equity firm managing over $1.3 billion across two funds, providing patient long-term capital (8-12 year horizon) to North American middle-market companies with $5M-$40M EBITDA in Healthcare, Financial Services, and Consumer verticals.
- Ownership category
- akta.pro rank
Peloton Capital Management industry classification
Industry- Product category
- Private Equity / Middle-Market Buyouts
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where Peloton Capital Management is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Peloton Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund Management - Management Fees: PCM generates management fees from managing their private equity funds (Fund I at $550M, Fund II at $550M), typically charged as a percentage of committed capital under management.
- Fund Management - Carried Interest: PCM generates carried interest (performance fees) from successful exits of portfolio companies, aligning investor and manager interests over the long-term investment horizon.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Peloton Capital Management product offering
Product offeringCore offering
Peloton Capital Management is a Canadian private equity firm that invests long-term patient capital (8-12 year horizon) in North American middle-market companies with $5M to $40M of EBITDA. The firm focuses on three core verticals: Healthcare Services, Financial Services, and Consumer, partnering with founders and management teams to support platform investments, add-on acquisitions, and organic growth initiatives. PCM operates Fund I ($550M closed July 2021) and Fund II ($550M closed September 2024), managing over $1.3 billion in total capital across 11 platform companies.
Product overview
Peloton Capital Management operates as a private equity firm offering investment management services through direct capital partnerships rather than a unified software product. The firm's investment strategy focuses on providing long-term capital (8-12 year horizon) to North American middle-market companies with $5M-$40M EBITDA in Healthcare, Financial Services, and Consumer sectors. The portfolio comprises twelve platform investments including: 123Dentist (dental support organization), P3 Veterinary Partners, The Fertility Partners, Glass Lewis (corporate governance services), EHN Canada (mental health/addiction treatment), Unison Risk Advisors (insurance brokerage), Victoria Park Medispa (medical aesthetics), Billyard Insurance Group, Trilogy Financial Services (wealth management), Lakefield Veterinary Group, and Starfish Specialty Insurance. Each portfolio company operates independently with its own product offerings, while PCM provides strategic capital and value creation support.
Differentiator
Problem solved
Functional benefit
Products and services
- PCM Middle-Market Buyout Funds (Fund I and Fund II) A private equity fund offering providing long-term (8-12 year) capital investments to North American middle-market companies with $5M-$40M EBITDA across Healthcare, Financial Services, and Consumer verticals. Limited Partners include institutional investors, financial institutions, and family offices.
- Direct Investment Partnership Program A partnership offering for founders and management teams of well-established, profitable North American companies seeking a long-term capital partner for growth and value creation rather than a short-term PE buyer.
- Value Creation and Operational Support Services Operational value creation support provided to portfolio companies, including M&A advisory for add-on acquisitions, operational improvement, and access to PCM's industry relationships and sector expertise.
Quantifiable outcome
- Successfully closed Fund I at $550M and Fund II at $550M, managing over $1.3B total
- +4 more outcomes
Companies that use Peloton Capital Management
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles2 records
Peloton Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Peloton Capital Management partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered esg framework and operating partner.
- UN Principles of Responsible Investment (PRI)esg frameworkPCM became a signatory to the UN PRI, the world's leading proponent of responsible investing. This demonstrates PCM's commitment to integrating ESG factors in investment decision-making, risk mitigation, and return strategy.
- Antonio Rodrigues (Operating Partner)operating partnerAntonio Rodrigues serves as Operating Partner at PCM, supporting value creation and business development. He is also a Partner at Bain & Company leading the Wealth and Asset Management practice in the Americas.
Scale indicators13 records
Recent moves2 records
Expansion highlights5 records
Peloton Capital Management competitors and assessment
Company assessmentDirect peers
- Clairvest Group: Canadian mid-market private equity firm focused on long-term partnerships with management teams. Highly comparable to PCM in Canadian middle-market focus, sector approach, and patient capital philosophy, with similar deal size ranges and fund structures.
- Novacap: One of Canada's leading private equity firms with sector-focused strategies across TMT, healthcare, financial services, and consumer. Directly comparable to PCM's vertical specialization model and middle-market Canadian focus.
- Birch Hill Equity Partners: Canadian private equity firm focused on mid-market buyouts across business services, consumer, financial services, and industrial sectors. Comparable to PCM in Canadian middle-market focus and long-term partnership approach with founders and management teams.
- Persistence Capital Partners: Canadian healthcare-focused private equity firm. Highly comparable to PCM's healthcare services vertical strategy, with overlapping interest in dental, veterinary, and specialty healthcare services platforms.
- TorQuest Partners: Canadian middle-market private equity firm with sector-focused approach. Comparable to PCM in fund size, sector diversification across healthcare and financial services, and Canadian middle-market buyout focus.
- Alignvest Capital Management: Canadian private equity and alternative asset manager with similar Canadian middle-market focus. Comparable in fund structure, deal size, and long-term partnership orientation with management teams.
- Imperial Capital Group: Canadian merchant bank and private equity firm focused on middle-market companies. Comparable to PCM in Canadian middle-market focus and sector-agnostic but selective deal-making approach.
Emerging players
- Audax Group: US-based middle-market private equity firm with similar sector-focused and long-term approach to building platforms through add-on acquisitions. Comparable to PCM's roll-up strategy in healthcare and financial services verticals.
Broad incumbents
- Onex Corporation: Largest Canadian private equity firm with broad sector exposure. Comparable as a Canadian PE incumbent but operates at much larger scale and with broader portfolio, serving as a reference point for PCM's growth trajectory.
- KKR: Global private equity firm that co-invested with PCM in the 123Dentist-Altima-Lapointe merger. Comparable as a sector-focused PE incumbent with overlapping interest in healthcare services, though operates at vastly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Peloton Capital Management social profiles
Digital presencePeloton Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Peloton Capital Management leadership team
Management profileNumber of profiles
Profiles10 records
Peloton Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Peloton Capital Management M&A and investment
M&A and investmentM&A1 record
Investments11 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Peloton Capital Management
What does Peloton Capital Management do?
Peloton Capital Management is a Canadian private equity firm that invests long-term patient capital (8-12 year horizon) in North American middle-market companies with $5M to $40M of EBITDA. The firm focuses on three core verticals: Healthcare Services, Financial Services, and Consumer, partnering with founders and management teams to support platform investments, add-on acquisitions, and organic growth initiatives. PCM operates Fund I ($550M closed July 2021) and Fund II ($550M closed September 2024), managing over $1.3 billion in total capital across 11 platform companies.
Is Peloton Capital Management a public or private company?
Peloton Capital Management is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Peloton Capital Management founded?
Peloton Capital Management was founded in 2018. It employs 11 to 50 people.
Where is Peloton Capital Management based?
Peloton Capital Management is headquartered in Toronto, Canada, in the North America region.
How does Peloton Capital Management make money?
Two revenue lines are on record. Fund Management - Management Fees are the primary driver. The others are fund Management - Carried Interest.
Who are Peloton Capital Management's main competitors?
Direct peers on record are Clairvest Group, Novacap, Birch Hill Equity Partners, Persistence Capital Partners, TorQuest Partners, Alignvest Capital Management and Imperial Capital Group. Audax Group is listed as an emerging player. Broad incumbents are Onex Corporation and KKR.
Does Peloton Capital Management have an API?
No public API is recorded for Peloton Capital Management.
What industry is Peloton Capital Management in?
Peloton Capital Management's product category is Private Equity / Middle-Market Buyouts. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 52394 and its SIC code is 6282.