21Vianet Group, Inc. (VNET, Financial) is the largest carrier-neutral Internet data center provider in China. Third quarter results and fourth quarter guidance came in slightly below expectations but management's confidence about demand for cabinets and pricing remained strong. Temasek, Singapore's state-owned investment company, also made a strategic $100 million investment and joined 21Vianet's board, which increased investor confidence. We continue to hold 21Vianet as a direct beneficiary of mobile and Internet traffic growth and derived IT services opportunities in China. (Gilad Shany)
From Baron Funds fourth quarter 2013 shareholder letter.
