Peloton Activist Blackwells Battled Barrack, Zell Before Targeting Foley
- Blackwells Capital was founded in 2016 by Jason Aintabi
- Activist returned 99.7% on its investments in 2021: source
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The activist investor who pushed Peloton Interactive Inc.’s John Foley to step down as chief executive officer and published a scathing takedown of his leadership skills has a long history of agitating for management changes, including wrangling with Tom Barrack’s Colony Capital Inc.
Blackwells Capital, which on Tuesday said Peloton has been “grossly mismanaged,” was founded in 2016 by Jason Aintabi, who also leads the private equity firm VandeWater Capital Holdings. The Montreal native uses his own money to battle big names from Barrack, a long-time ally of former President Donald Trump, to real estate billionaire Sam Zell, in attempts to squeeze more value out of his investments.