IREN and Wingspire Equipment Finance completed a $363 million equipment financing transaction to support IREN’s growing AI compute operations.
The financing refinanced recently acquired, revenue-generating AI compute infrastructure, including GPU-based servers and networking systems deployed within high-density data center environments.
Wingspire completed the transaction with a six-lender group featuring major commitments from Eldridge Capital Management and Silver Point Capital.
The asset-backed structure returned a significant amount of capital to IREN based on a meaningful percentage of the equipment’s original cost.
IREN can redeploy that liquidity to support continued expansion of its AI infrastructure platform.
The financing is secured primarily by the underlying equipment and supported by multi-year customer contracts.
IREN operates as a vertically integrated AI cloud provider, developing and operating large-scale data centers and computing systems for AI training and inference workloads.
The company’s infrastructure is supported by a portfolio of grid-connected land and power across renewable-rich regions in North America, Europe, and Asia-Pacific.
The financing illustrates the growing use of equipment-backed credit to fund the large capital requirements associated with GPU clusters and high-density AI data center infrastructure.
Wingspire Equipment Finance specializes in large-ticket equipment financing for middle-market and private equity-backed businesses.
Wingspire is the equipment financing arm of Wingspire Capital, a portfolio company of Blue Owl Capital Corporation.
Blue Owl Capital had approximately $319 billion of assets under management as of June 30, 2026.
Eldridge Capital Management’s commitment to the transaction reflects its broader investment activities across infrastructure and other industries expected to benefit from rising demand for computing capacity.
KEY QUOTES:
“We structured a tailored, asset-backed solution aligned with the company’s operating model and stayed closely engaged with the IREN team throughout the process to execute a complex financing of this scale.”
Dylan Potter, Vice President Of Business Development At Wingspire Equipment Finance
“This equipment finance facility will support IREN’s sustained trajectory of expansion as it scales to meet future customer demand.”
Harrison Smith, Managing Director At Eldridge Capital Management
