Latest news with #SteveHudson
RNZ News
3 days ago
- General
- RNZ News
Firefighters investigating cause of 'pretty bad' blaze on Mansfield St, Newtown
Smoke from the blaze drifts across the suburb. Photo: Supplied / Shay Vaseneva Firefighters are investigating the cause of a massive house fire in the Wellington suburb of Newtown overnight. The fire on Mansfield Street broke at about 11.40pm on Thursday and wasn't contained until about 2.30am on Friday. It was initially unclear whether anyone was inside the two-storied property. Once firefighters were able to enter the building, Fire and Emergency (FENZ) assistant commander Steve Hudson said a primary search did not reveal anyone inside. Three neighbouring properties were evacuated and Mansfield Street remained closed. Six fire trucks, an aerial appliance, a command unit and a breathing apparatus tender for decontamination attended the blaze. Some crews were being released at about 3am, as operations began to scale back. Hudson said an investigation would be carried out to establish the origin and cause of the fire. On social media, some users reported smelling smoke inside Wellington Hospital and as far away as Te Aro. FENZ advised anyone affected by the smoke to keep their doors and windows closed, and stay inside. Firefighters are battling a massive blaze at a Newtown house. Photo: Supplied / Shay Vaseneva Earlier, at 1am, shift manager Chris Dalton said the fire was "pretty bad" and still had not been contained. Firefighters were working to stop the flames from spreading when RNZ spoke to him. "That's what we're working on now," he said, noting many of the houses in the area were older structures. "It's an area where lots of houses are all built next to each other." It was not immediately clear at that time whether anyone was inside the building, Dalton said. Newtown resident Shay Vaseneva said she could see firefighters putting up caution tape around Mansfield Street at about 12.30am. "The house is in flames, there's no doubt, with quite a few fire trucks and police cars. It looked like they were making sure the fire doesn't spread to the neighbours, obviously it must be unsafe inside," they said. The smoke and smell were "pretty bad down the street from the house". Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
20-05-2025
- Business
- Yahoo
Monroe Capital Announces $250 Million Forward Flow Purchase of Consumer Recreational Vehicle and Marine Loans from Source One Financial Services, LLC
CHICAGO, May 20, 2025--(BUSINESS WIRE)--Monroe Capital LLC ("Monroe"), on behalf of its investment funds, has announced it has established a partnership with Source One Financial Services, LLC ("Source One") to originate and purchase consumer recreational vehicle ("RV") and marine loans. The initial pool is expected to be $250 million. Monroe has secured a revolving credit facility with Canadian Imperial Bank of Commerce to finance such origination and purchase. The capital provided by the Monroe partnership will allow Source One to continue to drive origination growth in high quality consumer RV and marine loans. Source One will originate and service the loans. Source One, a subsidiary of ECN Capital Corp. (TSX: ECN) ("ECN"), is a leading financial services provider in the RV and marine financing industry in the U.S. and has been operating since 1999. Source One maintains an expansive network of RV and marine dealer relationships across the U.S. ECN, through its subsidiaries, manages over $1.3 billion in its RV and marine segment. "Source One is a proven partner with extensive underwriting capabilities and experience. This investment directly highlights Monroe's asset-backed finance expertise and our ability to source unique and high-quality specialty finance transactions," said Kyle Asher, Co-Head, Alternative Credit Solutions, Monroe Capital. "We are excited by our partnership with Monroe Capital providing and managing high quality consumer RV and marine loans," said Steve Hudson, CEO of ECN Capital. "With this partnership, we continue to execute on our strategy to diversify and expand funding for Source One assets." This transaction is representative of Monroe's Specialty Finance division within the Alternative Credit Solutions Group. The group focuses on asset-backed finance (ABF), complex and special situation structured debt and equity financings that cover all asset types and geographies. In 2024, the Alternative Credit Solutions Group closed 19 debt and equity transactions. The team has a broad investment mandate, flexible capital and prides itself not only on its "bottoms up" expertise but also on its ability to move quickly and efficiently and provide confidence of execution on complex transactions. For over 20 years, the firm has been investing in asset-backed transactions with attractive collateral, as well as cash flow and enterprise value-based loans. About Monroe Capital Monroe Capital LLC ("Monroe") is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 11 locations throughout the United States, Asia and Australia. Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.'s 2024 Founder-Friendly Investors List; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit View source version on Contacts Zia UddinMonroe Capital LLC312-523-2374zuddin@ Daniel AbramsonBackBay Sign in to access your portfolio
