Baji Rao II was the last Peshwa

Peshwa

A Peshwa is the titular equivalent of a modern Prime Minister. Emporer Shivaji created the Peshwa designation in order to more effectively delegate administrative duties during the growth of the Maratha Empire. Prior to 1749, Peshwas held office for 8-9 years and controlled the Maratha army...

of the Maratha Confederacy, and governed from 1796 to 1818. His reign was marked by confrontations with the British.
Baji Rao was the son of Peshwa Raghunathrao

Raghunathrao

Raghunathrao was Peshwa of the Maratha Confederacy from 1773 to 1774. He was instrumental in the downfall of the Peshwa clan.-Early life:Raghunathrao, also known as "Raghoba" and "Ragho Bharari," was the younger brother of Nanasaheb Peshwa. His father was Peshwa Bajirao I & mother was Kashibai....

 and Anandibai

Anandibai

Anandibai is infamous in Maratha history for successfully plotting the death of her nephew - the 13 year old king Narayanrao. Her husband Raghunathrao was acting regent and next in line for the throne, at the time of Narayanrao's death....

. Raghunathrao defected to the English and caused the First Anglo Maratha war

Anglo-Maratha Wars

The Anglo-Maratha Wars were three wars fought in India between the Maratha Empire and the British East India Company:* First Anglo-Maratha War * Second Anglo-Maratha War...

 that the English lost. Peshwa Sawai Madhavrao committed suicide

Suicide

Suicide is the act of intentionally causing one's own death. Suicide is often committed out of despair or attributed to some underlying mental disorder, such as depression, bipolar disorder, schizophrenia, alcoholism, or drug abuse...

 in 1796, and died without an heir, and with the assistance of Daulatrao Scindia and Nana Phadnavis, Baji Rao became Peshwa.