Elliot Smith
Copenhagen
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Articles by Elliot Smith
Autoresearch, Claude and Constrained Optimization
You don't need to look far to find claims that folks have been using AI to do the work of dozens of people. I tend to be skeptical of any claim that discusses improvements without evidence. I decided to take that skepticism and put it to work. This had a minor overlap with the whole 'loops' discussion on X but that's coincidental. Over the last few weeks I have put together a project in the theme of Kaparthay's 'Autoresearch'.
Amendments To Ontario's Construction Act
Osler, Hoskin & Harcourt LLP are most popular: with Senior Company Executives, HR and Finance and Tax Executives in Canada with readers working within the Banking & Credit, Insurance and Healthcare industries Osler's Construction and Infrastructure team, Andrew Wong, Elliot Smith, Lia Bruschetta, and Roger Gillott led a webinar and shared their combined expertise in both solicitor and disputes perspectives. They discussed project delivery, as well as claims and adjudication strategies.
British Columbia's Construction Prompt Payment Act: From Cash-flow Friction To Clear Framework
Osler, Hoskin & Harcourt LLP are most popular: with Senior Company Executives, HR and Finance and Tax Executives in Canada with readers working within the Healthcare industries On October 7, 2025, British Columbia tabled Bill 20, the Construction Prompt Payment Act. In doing so, B.C. moves towards implementing a prompt payment and adjudication framework like those established over the past several years in other Canadian provinces.
Sunny Days Are Warm: Why LinkedIn Rewards Mediocrity
I, like many people, find LinkedIn particularly annoying. I like the premise of it, don’t get me wrong, a resume you don’t need to update all that often seems cool. Unfortunately though, its turned into the worst possible version of itself. It’s a place where people post half baked nonsense all for the sake of building a personal brand that nobody really cares about. I log in and see constant posting that I can only describe as toxic mediocrity.
A Domain of One's One
“Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome among us.
Acute alterations in blood lactate in the setting of transient stress induced myocardial ischaemia
1 INTRODUCTION An alteration in cardiac metabolism is the primary pathophysiological consequence of myocardial ischaemia. Interrupted blood flow and subsequent inadequate oxygen availability to the myocardium as a result of coronary vessel disease leads to anaerobic metabolism with resultant blood lactate ([La−]b) production (Parker et al., 1969).
If your customers don't talk, NPS is a vanity metric.
Word of mouth is a hell of a growth lever, but only when it works. It’s now become almost universal to send your customers an NPS survey and—hopefully—use your scores in the high 80s to show how well you’ll grow organically. Truth is, this only works if your customers actually talk to one another and if the problem you solve is something they’d discuss. Sometimes, your users just don’t interact. There are plenty of B2B tools for which two users are very unlikely to know each other.
FirstBank Announces New Chief Risk Officer, Promotes Other Leaders
FirstBank elevated several leaders, including its new Chief Risk Officer (CRO) Jennifer Payne. Payne has been with the bank for 23 years, and has worked in various leadership roles across the company, including President of Compliance and, most recently, President of Loan Servicing before she was appointed CRO. As CRO, Payne will oversee FirstBank’s compliance, security, loan review, risk management, legal, and anti-money laundering departments.
Ravinia Capital Advises CommonView Capital on $35MM Debt Transaction for Pain Specialists of America
Ravinia Capital closed a $35 million debt transaction by CommonView Capital ("CommonView") and Sandton Capital Partners ("Sandton"), to provide Pain Specialists of America ("PSA"), a portfolio company of CommonView and a leading interventional pain management services provider based in Austin, Texas, with enhanced financial flexibility to support its ongoing growth initiatives and strategic objectives. Ravinia served as the exclusive financial advisor to CommonView in this transaction.
Stonebriar Closes CAD$130MM (USD$95.1MM) Term Loan for Industrial and Environmental Services Provider
Stonebriar Commercial Finance (“Stonebriar”) closed a seven-year CAD$130MM (USD$95.1MM) term loan for a leading provider of specialty industrial and environmental services to oil and gas, chemical, and manufacturing end markets. The loan, part of a leveraged buyout, is secured by all fixed assets of the company. This is the second transaction closed with the company’s sponsor in the last 12 months, totaling CAD$186MM (USD$136.0MM).
Post Road Equipment Finance Provides $25MM Equipment Lease Line to Plastics, Rubber Manufacturer
Post Road Equipment Finance (“PREF”) provided a $25 million lease line to a leading designer and manufacturer of protective cases, portable lighting, and temperature-controlled packaging. This company serves a diverse range of industries, including consumer, government, and pharmaceutical sectors.
Cohn & Dussi Adds Two New Associates to Team in Boston
Cohn & Dussi announced the addition of two new associate attorneys to their team, based in the Boston office. The firm specializes in Creditor's Rights, Workouts and Bankruptcy, Equipment Leasing & Finance, Corporate & Financial Services, Commercial Litigation and Real Estate Law. Harris Cohn has joined the firm as an Associate. Prior to joining Cohn & Dussi, Attorney Cohn worked as an associate at an insurance defense firm.
T-Max Lending Provides $50.6MM Loan for Construction of Luxury Apartment Complex
T-Max Lending provided $50,600,000 to Foonberg Groups Limited for the construction of a 272-unit luxury multifamily property at 183-03 Hillside Ave, Jamaica Estates, NY. The loan, originated by Jackson Valerie at T-Max Lending LLC, carries a high fixed interest rate and features a 7-year term with straight amortization. The property will be built on a 23.3-acre site off Airline Highway on Hillside Ave and will consist of 272 market-rate units in 12 garden-style buildings.
Live Oak Bancshares Names Cairns Chief Credit Officer, Smits to Head Commercial Banking
Live Oak Bancshares announced that its Board of Directors has appointed Michael J. Cairns as Chief Credit Officer, effective August 1, 2024. Cairns will serve as CCO for both Live Oak Bancshares and Live Oak Bank and succeeds Steven J. Smits who has served in the position for 9 years. Smits is taking on a new role as head of commercial banking. “Steve’s work and leadership have contributed greatly to Live Oak’s impeccable credit culture.
Welsh to Leave U.S. Bank; Roy Promoted to Expanded Role
U.S. Bancorp, parent company of U.S. Bank, announced that Tim Welsh, vice chair of Consumer and Business Banking, intends to leave the organization after seven years to focus on his many community activities and additional career interests. “During the course of nearly 30 years in financial services, consumer experience, and global learning and development, Tim has been a trusted colleague and purpose-driven leader,” said Andy Cecere, U.S. Bancorp chairman and CEO.
CIBC Innovation Banking Provides $10MM in Growth Capital Financing to Clariti
CIBC Innovation Banking announced $10 million in growth capital financing for Clariti, a leading provider of purpose-built community development solutions for North American local governments. This funding will accelerate the development of new product features, support the ongoing integration of permitting technology provider Camino, which was acquired by Clariti in 2023, and be reinvested in customer service teams to support the company’s rapidly growing customer base across North America.
Bridge Bank Closes $47MM Term Loan Supporting Divergent Technologies’ Growth
Bridge Bank's Technology Banking Group closed a $47 million term loan with Divergent Technologies Inc. to support the company’s continued growth. Torrance, California-based Divergent uses a data-driven approach to design and build vehicle structures with the Divergent Adaptive Production System (DAPS™), the world’s first end-to-end software-hardware production system for industrial digital manufacturing for automotive, aerospace and defense applications.
SFNet: Asset-Based Lending Data Show Industry Remains Healthy, Moderately Improving Outlook
Banks and other lenders shared a mostly positive outlook for the asset-based lending market in the first quarter, fueled by predictions of a soft landing for the U.S. economy. But they are mindful of looming regulatory changes and continue to monitor portfolios for signs of post-pandemic stress, according to data released by the Secured Finance Network (SFNet).
Culain Capital Structures $3MM Accounts Receivable Financing Facility for Sustainable Denim Manufacturer
Culain Capital successfully structured of a $3 million accounts receivable financing facility for a prominent manufacturer of sustainable denim. This financing arrangement will provide the necessary working capital to support the company's ongoing growth and future expansion plans. The sustainable denim manufacturer has been at the forefront of eco-friendly textile production, utilizing innovative methods to reduce water usage, energy consumption, and chemical waste.
ABL Deal: PNC Bank Agents Extended, Upsized $800MM Credit Facility for Helios Technologies
Home / Deal Tables / Deal List / Deal Details The ABL Advisor Deal Tables PNC Bank Agents Extended, Upsized $800MM Credit Facility for Helios Technologies Lenders/Participants PNC Bank [Administrative Agent] Structure $500MM Revolving Credit Facility; $300MM Term Loan Amount $800.000 Million Borrower(s) Helios Technologies Description An amendment and restatement of its existing term loans and revolving credit facility to extend debt maturities, strengthen and streamline its lender group,...
Citizens Strengthens California Presence, Hires Walker as Middle Market Regional Executive
Further strengthening its growing presence in California, Citizens Financial Group announced that Michael Walker has joined the company to lead its team serving middle market companies across the state. Walker, based in San Francisco, has more than 45 years of banking experience and most recently served as head of City National Bank’s national commercial banking enterprise. Prior to that, he was U.S. Bank’s market president of the Northern California region for 10 years.
PNC Bank Agents Extended, Upsized Credit Facility for Helios Technologies
Helios Technologies entered into an amendment and restatement of its existing term loans and revolving credit facility to extend debt maturities, strengthen and streamline its lender group, reduce borrowing spreads, and expand the borrowing capacity under both its revolving credit facility and accordion feature. PNC Bank served as administrative agent for the new credit agreement.
Singhal Joins ORIX USA as Group Head of Direct Lending
ORIX Corporation USA announced the appointment of Nik Singhal as Managing Director and Group Head of Direct Lending within its Private Credit business. Singhal is based in New York and will report to Jeff Abrams, Group Head of Private Credit and Real Estate and Member, Executive Committee. Mr. Singhal will also join ORIX USA’s Management Committee. His start date at the firm is July 8, 2024.
WhiteHawk Capital Partners Provides $20MM Credit Facility to Arizona Athletic Grounds
WhiteHawk Capital Partners entered into a $20 million credit facility to Arizona Athletic Grounds (“AAG”), the USA’s premier youth sports and entertainment facility located in Mesa, Arizona. The financing will enable AAG to further expand products and services offered to athletes and sports enthusiasts of all ages.
First Citizens Bank Provides $22MM Senior Secured Loan to Euroseas for Containership Financing
First Citizens Bank's Maritime Finance business provided a senior secured loan of $22 million to Euroseas Ltd. for the financing for a newbuild 2,800 TEU Eco containership. Formed in 2005, Euroseas is an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes. The company has a fleet of 22 vessels, including 15 Feeder containerships and 7 Intermediate containerships. Euroseas’ 22 containerships have a cargo capacity of 66,261 TEU.
ACS Announces Industry Panel Webinar - Prospering in a Changing Landscape
Asset Compliant Solutions, a leading collections, recovery and portfolio optimization firm will be hosting a webinar event on Tuesday, July 13 at 3pm EDT titled Prospering in a Changing Landscape. The webinar will feature leaders from asset-based lenders, insurance and risk management, and collections & recovery.
Forrest Joins Citizens as SVP on Asset-Based Lending Team
Mark Forrest has joined Citizens as a senior vice president on the asset-based lending team to bring additional local focus and expertise as Citizens continues to grow its presence in the Midwest and West regions. He will serve as a trusted advisor delivering best-in-class advice and insights to help Citizens' clients achieve their goals.
Eclipse Business Capital Provides $150MM Credit Facility to West Marine
West Marine and certain of its affiliates, the nation's leading omnichannel provider in the marine aftermarket, entered into a new $150 million credit facility from asset-based lender (ABL) Eclipse Business Capital. The transaction extends the previous maturity date and provides reduced interest expense. These transactions support the Company's strategic evolution and long-term growth.
Horizon Technology Finance Closes New $100MM Credit Facility Enhancing Capital Resources
Horizon Technology Finance Corporation, an affiliate of Monroe Capital, announced that Horizon Funding II, LLC, Horizon’s wholly-owned subsidiary (“HFII”), has closed a $100 million senior secured credit facility led by a large U.S. based insurance company pursuant to which HFII may issue up to $100 million of secured notes. The capacity under the credit facility may be increased to $200 million with the mutual agreement of Horizon and the lenders.
Culain Capital Funds $5MM Accounts Receivable Financing Facility for Plastic Injection Molding Service Company
Culain Capital Funding provided a $5 million accounts receivable financing facility for a leading plastic injection molding service company. This strategic financial solution aims to support the company’s ongoing growth and future expansion plans. The plastic injection molding company, renowned for its innovative solutions and high-quality products, has experienced significant demand growth.
Cresset Partners Private Credit Fund Surpasses $500MM AUM
Cresset Partners announced that its flagship private credit portfolio, Cresset Partners Private Credit Fund, LLC (CPCF), has surpassed $500 million in assets under management—a significant milestone. CPCF began investing in April of 2023 and is focused on consistent income with strong downside management. The Fund’s diversified portfolio consists of senior secured, sponsor-backed loans to U.S. middle market borrowers, among other private credit opportunities.
ABL Deal: Eclipse Business Capital Provides $150MM Credit Facility to West Marine
Home / Deal Tables / Deal List / Deal Details The ABL Advisor Deal Tables Eclipse Business Capital Provides $150MM Credit Facility to West Marine Lenders/Participants Eclipse Business Capital [Lender] Structure Credit Facility Amount $150.000 Million Borrower(s) West Marine Description The transaction extends the previous maturity date and provides reduced interest expense. These transactions support the Company's strategic evolution and long-term growth. Industry Marine Location FL
ABL Deal: BofA Agents Credit Facility Amendment, Upsize to $1.5B for Celestica
Home / Deal Tables / Deal List / Deal Details The ABL Advisor Deal Tables BofA Agents Credit Facility Amendment, Upsize to $1.5B for Celestica Lenders/Participants Bank of America [Administrative Agent] Structure $750MM Revolver; $750MM Term Loan Amount $1.500 Billion Borrower(s) Celestica Description Amended its existing senior secured credit agreement (“Existing Facility”)*, with an upsizing of the total facility to $1.5 billion to support continuing growth.
ABL Deal: HPS Investment Partners Agents $385MM Senior Secured Credit Facility for Ribbon Communications
Home / Deal Tables / Deal List / Deal Details The ABL Advisor Deal Tables HPS Investment Partners Agents $385MM Senior Secured Credit Facility for Ribbon Communications Lenders/Participants HPS Investment Parnters [Administrative Agent] Whitehorse Capital [Joint Lead Arranger, Joint Bookrunner] Structure Senior Secured Credit Facility - $35oMM Term Loan; $35MM Revolving Credit Facility Amount $385.000 Million Borrower(s) Ribbon Communications Description Comprised of a $350 million term loan...
IDB Bank Arranges $201.5MM of Financing to Benefit National Portfolio of Skilled Nursing Facilities
IDB Bank served as the Administrative Agent to a $201.5 million Bridge-to-HUD loan to benefit a national portfolio of 21 skilled nursing facilities, with locations in North Carolina, Michigan, Georgia and Texas. The recent financing activity signals both the Bank's robust financing capabilities and strengthening presence across high-opportunity domestic markets.
MUFG and Nord/LB Arrange $513MM Financing for Recurrent Energy
Recurrent Energy, a subsidiary of Canadian Solar and a global developer, owner, and operator of solar and energy storage assets, secured $513 million in project financing for its landmark Papago Storage project located in Maricopa County, Arizona. Construction of the 1,200 MWh Papago Storage is slated to commence in the third quarter of 2024, with commercial operations expected to begin in the second quarter of 2025.
HPS Investment Partners Agents $385MM Senior Secured Credit Facility for Ribbon Communications
Ribbon Communications, a global provider of real time communications technology and IP optical networking solutions to many of the world's largest service providers, enterprises, and critical infrastructure operators to modernize and protect their networks, completed the previously announced $385 million senior secured credit facility (the "2024 Credit Facility") comprised of a $350 million term loan and a $35 million revolving credit facility.
ABL Deal: Hercules Capital Provides Up to $150MM Term Loan Facility to NeueHealth
Home / Deal Tables / Deal List / Deal Details The ABL Advisor Deal Tables Hercules Capital Provides Up to $150MM Term Loan Facility to NeueHealth Lenders/Participants Hercules Capital, Inc. [Lender] Structure Secured Term Loan Amount $150.000 Million Borrower(s) NeueHealth Description The financing, which will be used to support NeueHealth’s strategic priorities in 2024 and beyond. Industry Healthcare Location MN
HSBC Appoints Johnson as Global Head of Institutional Client Group
HSBC announced that Danielle Johnson has been appointed Global Head of Institutional Client Group (ICG) within the Global Banking and Markets business. In this role, she will be responsible for strengthening the coverage of institutional clients, particularly Western headquartered clients, who conduct business globally. Johnson’s appointment is effective as of June 3. Based in New York City, Johnson will report to Lisa McGeough and Gerry Keefe, Co-Heads of Global Banking Coverage.
RSM US Middle Market Business Index Strengthens, Reflects Stable Business Conditions
The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP (“RSM”) in partnership with the U.S. Chamber of Commerce, rose to 132.0 in the second quarter from 130.7 in the prior period on a seasonally adjusted basis. The MMBI survey results reflect a sustained business expansion characterized by historically low unemployment, strong household consumption and robust business revenues.
Cushman & Wakefield Releases Mid-Year Macro Outlook for Commercial Real Estate
Persistent inflation continues to influence the Federal Reserve’s decision making in 2024, amidst ongoing moderation in overall economic and labor conditions. These factors create a complex and mixed outlook for commercial real estate assets according to Cushman & Wakefield’s mid-year Macro Outlook report.
Castlelake Agrees to Purchase Up to $1.2B of Consumer Installment Loans Originated on Upstart’s Platform
Castlelake, a global alternative investment manager specializing in asset-based private credit investments, has reached an agreement to purchase up to $1.2 billion of consumer installment loans from Upstart, an artificial intelligence (AI) lending marketplace. The purchase agreement consists of a 12-month forward flow arrangement and follows a 2023 agreement with Upstart.
Braverman Named EisnerAmper’s National Leader of Transaction Advisory Services
EisnerAmper announced that Michael Braverman, Partner, has been named the firm's National Leader of Transaction Advisory Services (“TAS”) and Leader of Forensic, Litigation, and Valuation Services (“FLVS”) at the firm's New York office. With more than 35 years’ experience, Michael specializes in transactional consulting, litigation services, arbitration, auditing, and complex accounting. He primarily advises law firms, private equity firms, and public and private entities.
Mitsubishi HC Capital America Boosts Commercial Finance Credit Team with Two Executive Hires
Mitsubishi HC Capital America announced the expansion of its Commercial Finance Credit team with the addition of two seasoned credit professionals. Cary Downer joins as Vice President - Credit, bringing 27 years of industry experience, and Todd Thompson joins as Vice President - Credit Officer, with over 20 years of experience.
eCapital Upsizes Invoice Factoring Facility to $5MM for International Food Distributor
eCapital upsized an invoice factoring facility for a fast-growing startup food distributor specializing in supplying high-quality food products to Mexico. Demonstrating the agility of its financing solutions, eCapital increased the invoice factoring facility from $3 million in January 2024 to $5 million within six months. This increase in availability reflects the distributor's rapid sales growth and underscores eCapital's commitment to supporting high-growth businesses.
FNB Enhances Bank Operations with New Structure
FNB Corporation, the parent Company of First National Bank, announced it has enhanced its Bank Operations with a single, streamlined reporting structure. The updates are designed to enable FNB to more effectively apply automation, drive efficiency and innovation, further strengthen FNB's focus on risk management and create a superior customer experience.
Amerant Bank Names Industry Veteran Nursey as Central Florida Market President
Amerant Bank named industry veteran Mike Nursey as EVP, Central Florida Market President. Nursey will be responsible for the strategic execution of Amerant Bank’s growth strategy in Hillsborough, Pinellas counties as well as other key markets throughout Central Florida. “We are delighted to welcome Mike to the Amerant Bank team.
Flatbay Capital Closes $3MM CRE Loan for Vacuum Company
About the Company: For almost 40 years, the client has provided new and refurbished vacuum trucks and tanks that aid environmental waste management in both industrial and municipal settings. The company has continued to drive success by diversifying their product and service offerings and has become one of the top companies in North America within their $2 Billion industry.
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