VNET Group, Inc., a NASDAQ-listed provider of carrier- and cloud-neutral internet data center services in China, has finalized a significant equity transaction. Lochpine Capital Limited-affiliated entities PJ Millennium I Limited and PJ Millennium II Limited acquired a combined 38.1% stake in the company, representing approximately 650,424,192 Class A ordinary shares. The deal closed as of June 30, 2026, following a total of 1,708,970,760 ordinary shares outstanding at that date, positioning the buyers as the largest single shareholder in VNET’s capital structure.
VNET raises 38.1% stake via CATL-affiliated buyers
Lochpine Capital-backed investors complete acquisition of 650M shares in Beijing-based data-center provider VNET, securing ~38% ownership.
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Lucas Ferreira · Deals & Startups Desk · 21 Sept 2026 · 11:29 · 1 min read
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Lucas Ferreira
Deals & Startups Desk
Lucas covers M&A activity and startup funding rounds, tracking deal structures and valuations to explain what a transaction means for the companies and markets involved.
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