Blackstone has invested $250 million in Chinese data center services provider VNET Group through the acquisition of convertible notes.
VNET operates in more than 30 cities throughout China, servicing a diversified base of more than 6,000 hosting and related enterprise customers that span numerous industries, ranging from internet companies to government entities and blue-chip enterprises to small and mid-sized enterprises.
“Over the last two years, we have accelerated the growth of our data center footprint in high-demand locations across China's tier-1 cities,” said Josh Chen, founder and executive chairman of VNET. “Blackstone's investment provides us with the capital to take advantage of a robust pipeline of attractive development projects that support our hyperscale and enterprise customers.”
The investment was made through funds managed by Blackstone Tactical Opportunities.
Jasvinder Khaira, a senior managing director in the Tactical Opportun