Blackstone Inc. — Director's Dealing 2010

Dec 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CROSSTEX ENERGY LP (XTEX)
CIK: 0001179060
Period of Report: 2010-12-09

Reporting Person: GSO Crosstex Holdings LLC (10% Owner)
Reporting Person: Blackstone / GSO Capital Solutions Fund LP (10% Owner)
Reporting Person: Blackstone / GSO Capital Solutions Associates LLC (10% Owner)
Reporting Person: GSO Holdings I LLC (10% Owner)
Reporting Person: Blackstone Holdings I L.P. (10% Owner)
Reporting Person: Goodman Bennett J (10% Owner)
Reporting Person: Smith J Albert III (10% Owner)
Reporting Person: Ostrover Douglas I (10% Owner)
Reporting Person: Blackstone Holdings I/II GP Inc (10% Owner)
Reporting Person: Blackstone Group L.P. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-09	Common Units	P	7590	$14.1703	Acquired	878276	Indirect
2010-12-09	Common Units	P	5410	$14.1703	Acquired	49524	Indirect
2010-12-13	Common Units	P	43787	$14.1141	Acquired	922063	Indirect
2010-12-13	Common Units	P	31213	$14.1141	Acquired	80737	Indirect

Footnotes

F1: GSO Special Situations Fund LP directly holds these Common Units of Crosstex Energy, L.P. ("Common Units").

F2: GSO Special Situations Overseas Master Fund Ltd. directly holds these Common Units.

F3: GSO Crosstex Holdings LLC ("GSO Crosstex") holds 14,705,882 Series A Convertible Preferred Units ("Preferred Units") of Crosstex Energy, L.P. convertible on a one-for one basis into Common Units. Blackstone / GSO Capital Solutions Fund LP is the holder of a majority of the membership interests of GSO Crosstex. Blackstone / GSO Capital Solutions Associates LLC is the general partner of Blackstone / GSO Capital Solutions Fund LP. GSO Holdings I LLC is the managing member of Blackstone / GSO Capital Solutions Associates LLC. Blackstone Holdings I L.P. is the sole member of GSO Holdings I LLC. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/II GP Inc. Blackstone Group Management L.L.C. is the general partner of The Blackstone Group L.P. Stephen A. Schwarzman is the founding member of Blackstone Group Management L.L.C. (Continued in footnote 4).

F4: GSO Capital Partners LP is the investment manager of each of GSO Special Situations Fund LP and GSO Special Situations Overseas Master Fund Ltd. GSO Advisor Holdings L.L.C. is the general partner of GSO Capital Partners LP. Blackstone Holdings I L.P. is the sole member of GSO Advisor Holdings L.L.C.

F5: In addition, each of Bennett J. Goodman, J. Albert Smith III and Douglas I. Ostrover, each of whom serves as an executive of GSO Holdings I LLC, which is an affiliate of Blackstone / GSO Capital Solutions Associates LLC, may have shared investment control with respect to the Preferred Units held by GSO Crosstex.

F6: Due to the limitations of the electronic filing system, Blackstone / GSO Capital Solutions Fund LP, Blackstone / GSO Capital Solutions Associates LLC, GSO Holdings I LLC, Blackstone Holdings I L.P., Blackstone Holdings I/II GP Inc., The Blackstone Group L.P., Bennett J. Goodman, J. Albert Smith III and Douglas I. Ostrover are filing a separate Form 4.

F7: Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

F8: Each of the Reporting Persons, other than GSO Crosstex, GSO Special Situations Fund LP and GSO Special Situations Overseas Master Fund Ltd. as to their direct holdings of securities, disclaims beneficial ownership of the securities held by GSO Crosstex, GSO Special Situations Fund LP and GSO Special Situations Overseas Master Fund Ltd., except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons, other than GSO Crosstex, GSO Special Situations Fund LP and GSO Special Situations Overseas Master Fund Ltd. as to their direct holdings of securities, states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose.