peerd is an AWS VPC Peering Connection management tool. It manages the full lifecycle of creation, deletion and route table updates needed to make VPC peerings useful.
Capabilities
Capable of creating and accepting cross-account VPC peerings.
Capable of creating and accepting cross-region VPC peerings.
Capable of creating full-meshes of VPC peerings.
Injects, repairs and removes routes as needed from VPC routing tables.
Capable of managing overlapping meshes with the use of an environment name which is used to tag peerings.
Overlapping meshes supported through the use of different environment names in configuration file.
Yes, Transit Gateway is a valid replacement for this tool. :)