 | |
| Type | Public |
|---|---|
| TSX: ECN S&P/TSX Composite Component | |
| Industry | Business Services |
| Founded | 2016 |
| Headquarters | , Canada |
Key people | Steven Hudson (Chief executive officer) |
| Website | http://ecncapitalcorp.com/ |
ECN Capital Corporation is a Canadian financing company with managed and advised assets of approximately US$29 billion. It provides credit portfolios to 90 U.S. financial institutions and also originates, manages and advises on prime credit assets. It is listed on the Toronto Stock Exchange. [1]
ECN was founded in October 2016, through a spin-off of Element Financial's equipment finance division. [2] The spin-off resulted in two separate publicly traded companies: Element Fleet Management, which manages vehicle fleets, and ECN Capital, which provided commercial financing, especially to fleet owners. [3]
In February 2017, ECN sold its US commercial and vendor finance business to PNC Capital for $1.25 billion. [1] The deal caused the company's share price to rise, in part because the sale price was above book value. [4] This deal was part of a larger attempted re-deployment of capital by ECN from vendor and equipment financing to home improvement and construction financing. [5] As part of this re-deployment, in June 2017, the firm purchased Service Finance, an American home improvement lender, for $410 million. [6] It also purchased Triad Financial, a Florida-based home improvement lender, for $100 million, in October 2017. [5] On the other hand, in August 2017, ECN sold some of its rail car financing business for $1.44 billion. [5] It also sold its Canadian vendor financing business for $900 million in October 2017. [5] In December 2021 ECN sold Service Financial for US$2 Billion and used the proceeds to declare a $7.50/share special dividend that was paid out to shareholders on Dec. 22, 2021.
ECN Capital currently operates in two divisions: [7]
GE Capital is the financial services division of General Electric.
Blackstone Inc. is an American alternative investment management company based in New York City. In 2019, Blackstone converted from a publicly traded partnership into a C-type corporation. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. As of 2020, the company's total assets under management were approximately US$619 billion.
PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,945 branches and 9,051 ATMs. The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing. PNC is one of the largest Small Business Administration lenders and one of the largest credit card issuers. It also provides asset-based lending to private equity firms and middle market companies. PNC operates one of the largest treasury management businesses and the second largest lead arranger of asset-based loan syndications in the United States. Harris Williams & Co., a subsidiary of the company, is one of the country's largest mergers and acquisitions advisory firms for middle-market companies. Midland Loan Services, a division of PNC Real Estate based in Overland Park, Kansas and founded in 1991, is ranked by Mortgage Bankers Association as the 2nd largest master and primary servicer of commercial bank and savings institution loans.
Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at Rs 16,548 crore, while its total assets as on the date stood at Rs 82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.
BlackRock, Inc. is an American multinational investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of January 2022. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.
HSBC Finance Corporation is a financial services company and a subsidiary of HSBC Holdings. It is the sixth-largest issuer of MasterCard and Visa credit cards in the United States. HSBC Finance Corporation was formed from the legal entity that had been known as Household International—shortly after Household International settled for US$486 million in charges pertaining to predatory lending, after burning through $389 million in legal fees and expenses—and is now expanding its consumer finance model via the HSBC Group to Brazil, India, Argentina and elsewhere.
Cerberus Capital Management, L.P. is an American private equity firm, specializing in distressed investing. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.
Huntington Bancshares Incorporated is an American bank holding company headquartered in Columbus, Ohio. The company is ranked 500th on the Fortune 500, and is 35th on the list of largest banks in the United States.
FIS is an American company which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2020 it offers its solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
Oppenheimer Holdings is an American multinational independent investment bank and financial services company offering investment banking, financial advisory services, capital markets services, asset management, wealth management, and related products and services worldwide. The company, which once occupied the One World Financial Center building in Manhattan, now bases its operations at 85 Broad Street in New York City.
Legend Holdings Corporation (联想控股股份有限公司) is a Chinese investment holding company with interests in finance, real estate, and information technology, and the controlling shareholder of its better-known associate company, the Lenovo Group. Formed by the Chinese Academy of Sciences, Lenovo was originally Legend Computer, until the English name was changed in 2004. Its Chinese name however remains the same, 联想.
FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker for trading on the foreign exchange market. FXCM allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London.
TIP Trailer Services is an American–Dutch truck trailer rental, leasing, and sales company founded in 1957. The company's portfolio measures over 100,000 assets. Other operations are trailer maintenance and repairs, digital and connected solutions, damage insurance, and sales of used trailers and trucks.
Prime Bank Kenya (PBKL) is a commercial bank in Kenya, licensed and supervised by the Central Bank of Kenya (CBK), the central bank and national banking regulator.
The Banca Ifis S.p.A. Group is active in specialty finance. Its core businesses are: lending services to undertakings, and acquiring/servicing non-performing loan portfolios.
Funding Circle is a peer-to-peer lending marketplace that allows the public to lend money directly to small and medium-sized businesses. Through this exchange businesses access lower costs of financing than they would get at a bank and the public are able to become lenders and in doing so make a return on their capital.
HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner of Grand China Air, and owns 25% of Hilton Worldwide. In July 2017, HNA Group ranked No. 170 in 2017 Fortune Global 500 list with a revenue of $53.335 billion. It is one of the most active investment companies in the world, acquiring numerous assets under its name. In 2021, the corporation declared bankruptcy after debt restructuring efforts failed.
GoodLeap, formerly Loanpal, is a California-based finance technology company that provides financing options for the residential solar industry. The company was founded in 2003 as Paramount Equity and was later rebranded to Loanpal. In June 2021, the company rebranded to GoodLeap. As of 2020, the company was responsible for 41% of the solar loan market in the U.S. and is the top solar lender in the country.
Gibsons is a Canada-based midstream oilfield service company in the oil and gas industry. Its assets include pipelines, oil storage facilities, as well as a refinery in Moose Jaw. It is listed on the Toronto Stock Exchange.
Kenya Mortgage Refinance Company Plc (KMRC), is a financial services company in Kenya, that specializes in lending to other financial institutions in the country, for onward lending in form of mortgages. In addition, KMRC buys good mortgages from other lenders to make more money available to banks for onward lending to eligible homeowners. It also plans to "invest in government debt securities or other guaranteed debt".