Octane lines up a $1.4bn powersports loan facility
Octane executed a $1.4 billion forward-flow facility, its largest, with New York Life arranging powersports and outdoor-equipment loans up to that cap.
Octane (Octane Lending, Inc.) has executed a $1.4 billion forward-flow facility, and the powersports point-of-sale lender's October 6, 2026 release calls it the largest since inception. The release headline says the company closes the deal, but the body shows a purchase cap, not a draw. Buyers have "jointly agreed to purchase up to $1.4 billion" of fixed-rate installment, full-spectrum powersports and outdoor power equipment loans, and RVBusiness's October 8 report repeats that cap. Having read both pages, the auto business the release says Octane has entered is not on the collateral list.
New York Life Investment Management (NYLIM), the asset management business of New York Life, is loan arranger and lead investor, alongside MetLife Investment Management, Equitable, Pacific Life, and Victory Park Capital. AB CarVal, part of AllianceBernstein's Private Alternatives business, advised Equitable, and the release names NYLIM, not AB CarVal, as loan arranger. Roadrunner Financial, LLC originates the loans, and Roadrunner Account Services, LLC services them. The October 6 release adds Pacific Life and Victory Park as new forward-flow partners, and calls this the third forward-flow deal announced in 2026 and the third partnership with funds managed by life insurers.
What the cap actually covers
Octane used the same "up to" construction on the previous life-insurer facility, which is why that figure cannot be read as cash already sent. On April 15, 2025, the company executed an up to $700 million forward-flow, with New York Life arranging and MetLife Investment Management and Equitable alongside, that release says. The October announcement calls it the company's $700 million facility and says those three participated. The 2025 release called the deal the second life-insurer partnership and the largest at the time, and named Truist Securities as structuring agent, a role the October 6 release does not name.
"Our largest-ever forward-flow facility marks a significant milestone for Octane and our capital markets program," said Nicholas Makarov, senior vice president and head of capital markets at Octane. He said the transaction's scale and the partners' quality "reflect the strength and consistency of our credit performance". The release prints no delinquency rate, loss rate, coupon, or credit-tier mix under "full-spectrum," and RVBusiness did not add them.
Brendan Feeney, managing director and head of Consumer Asset Based Finance, Private Fixed Income, uses another count. The release places Private Fixed Income inside NYLIM, which it puts at approximately $837 billion in assets under management. "Building on our inaugural facility, we are proud to close a second forward-flow commitment with Octane alongside an expanded group of institutional partners," he said. His "second" is NYLIM's second commitment with Octane, while Octane's third life-insurer partnership is a different count.
No outside figure has answered the credit claim
Neither the RVBusiness pickup nor PR Newswire's copy of the release quotes a rival powersports lender, a dealer group, a bank, or a regulator. As of October 8, the trade record is still Octane's own account of credit performance. Silence is not confirmation. Those pages give no counterparty number against the claim.
The funding shape is the cross-vertical point. Roadrunner Financial, a non-bank, originates, and Octane's in-house servicer stays on the loans, while life-insurance asset managers and Victory Park Capital, described as specializing in private credit, agree to buy. That is a different choice from Klarna filing for a US bank charter to end WebBank reliance, from Cross River committing bank balance-sheet capacity to embedded finance, from Lloyds extending bank credit to PremFina, and from FIS putting embedded deposits on the bank's balance sheet. The facility sells that book forward rather than holding it.
Octane says it has sold, or secured commitments to sell, more than $6.3 billion of consumer loans through forward-flow and whole-loan programs, including approximately $3.4 billion of commitments in 2026. The new cap is inside that "to date" passage, not a sum to add to the $3.4 billion. A separate asset-backed securitization (ABS) program has issued more than $5 billion of notes, including its $337 million RV and marine securitization, the company's largest in that asset class. First-half 2026 originations grew 37% year-over-year, and all-time originations surpassed $9 billion.
A draw would fund powersports and outdoor power equipment loans only, because that is what the buyers agreed to purchase. RV and marine paper already has an outlet in the $337 million ABS deal, while auto and the captive-finance partnerships are listed as momentum beside the facility, not as collateral inside it. Forward-flow buyers will not fund a loan the agreement does not describe, so auto originations have to show up in a later commitment or on the ABS shelf. Until Octane or NYLIM publishes a draw, the checked facts stop at that ceiling, the buyers, and those two collateral types.
Reporting by Rick Steves. Filed 10 October 2026, 17:25 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
