Octane Lending, Inc. has executed a $300 million transaction with the Moore Specialty Credit (MSC) Platform, the private asset-backed finance platform of Moore Capital Management.
Through a two-year, renewable agreement, MSC agreed to buy up to $300 million of high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial, Inc. Octane’s in-house loan servicer, Roadrunner Account Services, LLC, will service the loans.
Octane’s agreement brings the company’s total value of such commitments signed in the past year to over $2 billion. Octane has sold or entered into commitments to sell over $2.8 billion since its first sale in December 2023.
Octane President and Chief Financial Officer Steven Fernald said, “We deeply appreciate and value the MSC team’s partnership as we endeavor to deliver innovative, tailored solutions and a seamless, digital experience for dealers and OEMs. We are thrilled to see growing demand from esteemed partners such as MSC for our asset class, buoyed by consistent and stable credit performance, and look forward to deepening our relationship with them in the years to come.”
MSC Chief Investment Officer Erik Siegel said he welcomes the partnership.
Siegel said, “Octane’s strong credit performance, focused underwriting, and differentiated approach to secured lending make this a compelling opportunity for MSC.”
Octane said it recently surpassed $6 billion in aggregate originations and grew originations in 2024 by 36% year-over-year.
