# EDGAR Filing Document

**Accession Number:** 0001508475
**File Stem:** 0001193125-26-057861
**Filing Date:** 2026-2
**Character Count:** 53294
**Document Hash:** 3b67774a6e09c4c439deaa5da08931fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-057861.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001193125-26-057861

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260218

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VNET Group, Inc.
- **CENTRAL INDEX KEY:** 0001508475
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-86326
- **FILM NUMBER:** 26651325

**BUSINESS ADDRESS:**
- **STREET 1:** GUANJIE BUILDING, SOUTHEAST 1ST FLOOR
- **STREET 2:** 10# JIUXIANQIAO EAST ROAD
- **CITY:** Beijing
- **STATE:** F4
- **ZIP:** 100016
- **BUSINESS PHONE:** (86 10) 8456-2121

**MAIL ADDRESS:**
- **STREET 1:** GUANJIE BUILDING, SOUTHEAST 1ST FLOOR
- **STREET 2:** 10# JIUXIANQIAO EAST ROAD
- **CITY:** Beijing
- **STATE:** F4
- **ZIP:** 100016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 21Vianet Group, Inc.
- **DATE OF NAME CHANGE:** 20110406

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 21 Vianet Group, Inc.
- **DATE OF NAME CHANGE:** 20101221
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P.
- **CENTRAL INDEX KEY:** 0001758419

**ORGANIZATION NAME:**
- **EIN:** 981067996
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** C/O THE BLACKSTONE GROUP
- **STREET 2:** 345 PARK AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154
- **BUSINESS PHONE:** 212-583-5224

**MAIL ADDRESS:**
- **STREET 1:** C/O THE BLACKSTONE GROUP
- **STREET 2:** 345 PARK AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Blackstone Tactital Opportunities Management Associates (Cayman) - NQ L.P.
- **DATE OF NAME CHANGE:** 20181107

### Attached PDF Documents

**Attachment 1:** `ck0000000000-ex99_5.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**VNET GROUP, INC.**

*(Name of Issuer)*

**Class A Ordinary Shares, par value US$0.00001 per share**

*(Title of Class of Securities)*

**G91458102**

*(CUSIP Number)*

**John G. Finley**<br>Blackstone Inc., 345 Park Avenue<br>New York NY 10154<br>(212) 583-5000

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**02/13/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Vector Holdco Pte. Ltd.** | Name of reporting person<br>**Vector Holdco Pte. Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**U0** | Citizenship or place of organization<br>**U0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.83%** | Percent of class represented by amount in Row (11)<br>**3.83%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The aggregate amount represents 60,578,130 Class A Ordinary Shares held in the form of American Depositary Shares ("ADSs"), held directly by the Reporting Person. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTO Vector Fund ESC (CYM) L.P.** | Name of reporting person<br>**BTO Vector Fund ESC (CYM) L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**268998.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**268998.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**268998.00** | Aggregate amount beneficially owned by each reporting person<br>**268998.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.02%** | Percent of class represented by amount in Row (11)<br>**0.02%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The aggregate number represents 268,998 Class A Ordinary Shares held in the form of ADSs directly held by the Reporting Person. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTO Vector Fund FD (CYM) L.P.** | Name of reporting person<br>**BTO Vector Fund FD (CYM) L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1565652.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1565652.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1565652.00** | Aggregate amount beneficially owned by each reporting person<br>**1565652.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.10%** | Percent of class represented by amount in Row (11)<br>**0.10%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The aggregate number represents 1,565,652 Class A Ordinary Shares held in the form of ADSs held by the Reporting Person. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTO Super Holding (NQ) Co. III Pte. Ltd.** | Name of reporting person<br>**BTO Super Holding (NQ) Co. III Pte. Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**U0** | Citizenship or place of organization<br>**U0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.83%** | Percent of class represented by amount in Row (11)<br>**3.83%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The aggregate number represents 60,578,130 Class A Ordinary Shares held in the form of ADSs by the Reporting Person. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Tactical Opportunities SG II (Cayman) - NQ L.P.** | Name of reporting person<br>**Blackstone Tactical Opportunities SG II (Cayman) - NQ L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**60578130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | Aggregate amount beneficially owned by each reporting person<br>**60578130.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.83%** | Percent of class represented by amount in Row (11)<br>**3.83%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The aggregate number represents 60,578,130 Class A Ordinary Shares held in the form of ADSs held by Vector Holdco Pte. Ltd. ("Vector Holdco"). The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTO Holdings (Cayman) - NQ Manager L.L.C.** | Name of reporting person<br>**BTO Holdings (Cayman) - NQ Manager L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1834650.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1834650.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1834650.00** | Aggregate amount beneficially owned by each reporting person<br>**1834650.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.12%** | Percent of class represented by amount in Row (11)<br>**0.12%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The aggregate number represents 1,834,650 Class A Ordinary Shares held in the form of ADSs. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P.** | Name of reporting person<br>**Blackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The aggregate number represents 62,412,780 Class A Ordinary Shares held in the form of ADSs held by Vector Holdco, BTO Vector Fund ESC (CYM) L.P. ("Vector Fund ESC") and BTO Vector Fund FD (CYM) L.P. ("Vector Fund FD") (the "Holders"). The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTO GP-NQ L.L.C.** | Name of reporting person<br>**BTO GP-NQ L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Tactical Opportunities LR Associates (Cayman) - NQ Ltd.** | Name of reporting person<br>**Blackstone Tactical Opportunities LR Associates (Cayman) - NQ Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Holdings IV L.P.** | Name of reporting person<br>**Blackstone Holdings IV L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**QUEBEC** | Citizenship or place of organization<br>**QUEBEC** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Holdings IV GP L.P.** | Name of reporting person<br>**Blackstone Holdings IV GP L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**QUEBEC** | Citizenship or place of organization<br>**QUEBEC** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Holdings IV GP Management (Delaware) L.P.** | Name of reporting person<br>**Blackstone Holdings IV GP Management (Delaware) L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Holdings IV GP Management L.L.C.** | Name of reporting person<br>**Blackstone Holdings IV GP Management L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The aggregate number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Inc.** | Name of reporting person<br>**Blackstone Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Blackstone Group Management L.L.C.** | Name of reporting person<br>**Blackstone Group Management L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

| **CUSIP No.** | **G91458102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stephen A. Schwarzman** | Name of reporting person<br>**Stephen A. Schwarzman** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**62412780.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | Aggregate amount beneficially owned by each reporting person<br>**62412780.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.94%** | Percent of class represented by amount in Row (11)<br>**3.94%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The number represents 62,412,780 Class A Ordinary Shares in the form of ADSs held by the Holders. The percent of class is calculated based upon 1,583,373,683 Class A Ordinary Shares reported by the Issuer to be issued and outstanding as of February 28, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Ordinary Shares, par value US$0.00001 per share

**(b) Name of Issuer:**
VNET GROUP, INC.

**(c) Address of Issuer's Principal Executive Offices:**
Guanjie Building, Southeast 1st Floor, 10# Jiuxianqiao East Road, Chaoyang District, Beijing, F4, 100016

This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") amends and supplements the Schedule 13D originally filed by the Reporting Persons on July 2, 2020, as amended by Amendment No. 1 filed on April 8, 2021 ("Amendment No. 1"), Amendment No. 2 filed on February 1, 2022 ("Amendment No. 2") and Amendment No. 3 filed on March 20, 2025 ("Amendment No. 3", and as amended and supplemented by this Amendment No. 4, the "Schedule 13D"), relating to the Class A Ordinary Shares, par value US$0.00001 per share ("Class A Ordinary Shares") of VNET Group, Inc. (the "Issuer").

Capitalized terms used but not defined in this Amendment No. 4 shall have the same meanings ascribed to them in the Schedule 13D. Except as specifically amended by this Amendment No. 4, items in the Schedule 13D are unchanged.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is hereby amended by adding the following paragraphs immediately prior to the penultimate paragraph of such item:

On February 13, 2026, the Issuer entered into (i) an amendment, dated as of February 13, 2026, to that certain investment agreement, dated as of January 28, 2022, by and among the Issuer, Blackstone Tactical Opportunities Fund - FD and the Notes Investors (as defined below) (such amendment, the "Convertible Notes Amendment"); (ii) an amendment, dated as of February 13, 2026, to that certain investment agreement, dated as of June 22, 2020, by and among the Company BTO Vector Fund ESC (CYM) L.P, Blackstone Tactical Opportunities Fund - FD and the Notes Investors (such amendment, the "Preferred Shares Amendment"); and (ii) that certain indenture (the "Indenture"), dated as of February 13, 2026, between the Issuer, as issuer and Citibank, N.A., as trustee (the "Trustee"), to amend and restate certain terms of the Company's previously issued 2% convertible notes due 2027 in aggregate principal amount of US$250.0 million (the "Amended Notes").

On February 17, 2026, Vector Holdco Pte. Ltd. and BTO Vector Fund FD (CYM) L.P. (the "Notes Investors"), acting in their capacity as holders of the Amended Notes, notified the Issuer and the Trustee of the occurrence of a Transfer Event and a Minimum Shareholding Event (each, as defined in the Indenture) in connection with the Indenture for the Amended Notes. In connection with such events, the Notes Investors will dispose of all such Amended Notes through certain secondary sale transactions, resulting in the disposition of 147,340,909 Class A Ordinary Shares (on an as-converted basis with respect to such Amended Notes) (the "Sale Transactions").

The full text of each of the Convertible Notes Amendment, the Preferred Shares Amendment and the Indenture, attached as Exhibits 99.2, 99.3 and 99.4 hereto, respectively, are incorporated by reference in their entirety into this Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) of the Schedule 13D is hereby amended and as follows:

The information contained in rows 11 and 13 of each of the cover pages hereto is hereby incorporated by reference into this Item 5(a). The reported securities are directly held as follows:

*      Vector Holdco beneficially owns 60,578,130 Class A Ordinary Shares held in the form of ADSs directly  held by Vector HoldCo.
*      Vector Fund ESC beneficially owns 268,998 Class A Ordinary Shares held in the form of ADSs directly held by Vector Fund ESC; and
*      Vector Fund FD beneficially owns 1,565,652 Class A Ordinary Shares held in the form of ADSs directly held by Vector Fund FD.

The securities held by Vector Holdco, Vector ESC and Vector Fund FD (together, the "Direct Holders") represent an aggregate of 62,412,780 Class A Ordinary Shares, which constitutes 3.94% of outstanding Class A Ordinary Shares (on an as-converted basis).  Calculations of the percentage of Class A Ordinary Shares beneficially owned assumes that there were 1,583,373,683 Class A Ordinary Shares issued and outstanding of the Issuer as of February 28, 2025 (excluding (a) treasury shares and (b) Class A Ordinary Shares in the form of ADSs that are reserved for future issuances upon the exercise or vesting of share incentive awards), as reported in the Issuer's annual report on Form 20-F filed with the SEC on April 25, 2025.

BTO Super Holding is the 100% equity owner of Vector Holdco. BTO SG is the 100% equity owner of BTO Super Holding. BTO Holdings is the general partner of Vector Fund ESC and Vector Fund FD. BTOMA is the managing member of BTO Holdings and the general partner of BTO SG. BTO GP and BTOLRA are the general partners of BTOMA with BTO GP controlling BTOMA with respect to all matters other than voting of securities of underlying portfolio companies, which power is held by the Class B shareholders of BTOLRA, who are certain senior personnel of Blackstone. Blackstone IV is the sole member of BTO GP and the sole Class A shareholder of BTOLRA. Blackstone IV GP is the general partner of Blackstone IV. Blackstone IV GP Management (Delaware) is the general partner of Blackstone IV GP. Blackstone IV GP Management is the general partner of Blackstone IV GP Management (Delaware). Blackstone Inc. is the sole member of Blackstone IV GP Management. Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock of Blackstone Inc. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's Managing Directors and controlled by its founder, Stephen A. Schwarzman.

As a result of such relationships, each of the foregoing may be deemed to beneficially own the Class A Ordinary Shares that are directly or indirectly controlled by such Reporting Person, but neither the filing of this Amendment No. 4 nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the Class A Ordinary Shares referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such Class A Ordinary Shares. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Section 13(d) and 13(g) of the Act.

**(b)**
Item 5(b) of the Schedule 13D is hereby amended and restated as follows:

The information contained in rows 7 through 10 of each of the cover pages hereto and in Item 5(a) hereof are hereby incorporated by reference into this Item 5(b).

**(c)**
Item 5(c) of the Schedule 13D is hereby amended and restated as follows:

Except as set forth in this Amendment No. 4, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any other person named in Schedule I to Amendment No. 3, has effected any transaction in Class A Ordinary Shares in the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is hereby amended to incorporate the following at the end thereof:

The information set forth in or incorporated by reference in Item 4 of this Amendment No. 4 is incorporated by reference into this Item 6.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Vector Holdco Pte. Ltd.

**Signature:** /s/ Aravind Krishnan Sreekumar

**Name/Title:** Aravind Krishnan Sreekumar / Director

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTO Vector Fund ESC (CYM) L.P.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of BTO GP - NQ L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTO Vector Fund FD (CYM) L.P.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of BTO GP - NQ L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTO Super Holding (NQ) Co. III Pte. Ltd.

**Signature:** /s/ Aravind Krishnan Sreekumar

**Name/Title:** Aravind Krishnan Sreekumar / Director

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Tactical Opportunities SG II (Cayman) - NQ L.P.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of BTO GP - NQ L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTO Holdings (Cayman) - NQ Manager L.L.C.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of BTO GP - NQ L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Tactical Opportunities Management Associates (Cayman) - NQ L.P.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of BTO GP - NQ L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTO GP-NQ L.L.C.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Tactical Opportunities LR Associates (Cayman) - NQ Ltd.

**Signature:** /s/ Christopher J. James

**Name/Title:** Christopher J. James / Authorized Person of Blackstone Capital Holdings Director L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Holdings IV L.P.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary of Blackstone Holdings IV GP Management L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Holdings IV GP L.P.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary of Blackstone Holdings IV GP Management L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Holdings IV GP Management (Delaware) L.P.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary of Blackstone Holdings IV GP Management L.L.C., See Exhibit 99.5

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Holdings IV GP Management L.L.C.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Inc.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Blackstone Group Management L.L.C.

**Signature:** /s/ Victoria Portnoy

**Name/Title:** Victoria Portnoy / Managing Director - Assistant Secretary

**Date:** 02/18/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Stephen A. Schwarzman

**Signature:** /s/ Stephen A. Schwarzman

**Name/Title:** Stephen A. Schwarzman

**Date:** 02/18/2026