Sir Peter James Vela KNZM (born 1948 or 1949) is a New Zealand businessman and Thoroughbred breeder and owner.

[3] Philip and Peter Vela went on to establish Pencarrow Stud, on a 300-hectare (741-acre) property at Tamahere on the outskirts of Hamilton.

[5] Among the horses bred by Pencarrow and sold as yearlings was Darci Brahma, which went on to win five group 1 races.

[4] The brothers split their business interests in 2013, with Philip taking control of Vela Fishing, while Peter retained ownership of the bloodstock enterprises.

[6] In the 2002 Queen's Birthday and Golden Jubilee Honours, Peter Vela was appointed an Officer of the New Zealand Order of Merit, for services to horse racing and the bloodstock industry.