Peloton Capital Management and Canadian businessman Stephen Smith acquired independent global governance solutions provider Glass Lewis from the C$204.7 billion ($161.7 billion) Ontario Teachers' Pension Plan, Toronto, and Alberta Investment Management Corp., a spokeswoman for the private equity firm confirmed.
Terms of the deal were not disclosed.
Peloton Capital and Mr. Smith will enable Glass Lewis to expand into new markets and provide additional services and capabilities, according to a news release announcing the deal.
"Glass Lewis has built a venerable brand and we look forward to helping them deliver important governance solutions to the marketplace," Mr. Smith said in the release.
The chairman, co-founder and CEO of the Toronto-based mortgage lender First National Financial Corp. added in the release: "Capital markets participants have become increasingly focused on environmental, social, and governance factors as they build their business strategies. Glass Lewis is very well positioned to provide solutions to address the global demands generated by this shift."
Lazard acted as financial adviser and Torys LLP served as legal counsel to Ontario Teachers' and AIMCo. Perkins Coie LLP was legal counsel to Peloton Capital Management and Mr. Smith.