Blackstone funds have invested $150m (€133.4m) for a stake in Chinese data centre firm 21Vianet Group.

The investment, which makes Blackstone one of the 21Vianet’s largest institutional stockholders, will be used by the company to expand across China. 21Vianet operates in more than 20 cities throughout China.

Jasvinder Khaira, senior MD, Blackstone Tactical Opportunities, said: “China’s public cloud is experiencing exponential growth and 21Vianet is positioned to meaningfully accelerate its deployment of data centre capacity.”

Mike Shang, MD, Blackstone Tactical Opportunities, said: “We are excited to support 21Vianet’s growth plans and look forward to a partnership where we can assist with our global experience in the sector.”

Josh Chen, founder and executive chairman, 21Vianet, said: “This investment is a valuable vote of confidence in the strategy being pursued by our team.

“Blackstone’s experience, connections and knowledge of the data centre sector globally will help us embrace new infrastructure and digital transformation opportunities to better serve our customers.”

To read the digital edition of the latest IPE Real Assets magazine click here.