Blackstone Inc. — Director's Dealing 2013

Jan 11, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2013-01-09

Reporting Person: HILL J TOMILSON (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-09	Common units representing limited partner interests	A	411512	—	Acquired	1495990	Direct
2012-12-21	Common units representing limited partner interests	G	660000	—	Disposed	1533493	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	707071	Indirect

Footnotes

F1: Granted under the 2007 Equity Incentive Plan, 329,209 of these 411,512 deferred restricted common units vest ratably over a four-year period, with 82,302 units vesting on January 1, 2014, 82,302 units vesting on January 1, 2015, 82,302 units vesting on January 1, 2016, and 82,303 units vesting on January 1, 2017, subject to Mr. Hill's continued employment with Blackstone. Also granted under the 2007 Equity Incentive Plan, 82,303 of these deferred restricted common units will vest on January 1, 2017, subject to Mr. Hill's continued employment with Blackstone. As these deferred restricted common units vest, the underlying common units will be delivered to Mr. Hill. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.

F2: On December 21, 2012, Mr. Hill transferred limited liability company interests in a personal LLC of which Mr. Hill is a manager (the "personal LLC") to two trusts for the benefit of his family, for which his wife is a trustee (the "Children's Trusts"). That transfer is reflected in this Form 4 and is exempt from Section 16(b) of the Securities Exchange Act of 1934 (the "Act") pursuant to Rule 16b-5 under the Act.

F3: The number reported as being disposed of reflects the portion of common units representing limited partner interests held by the personal LLC that corresponds to the limited liability company interests transferred to and held by the Children's Trusts.

F4: These units are held by the personal LLC, of which Mr. Hill and the Children's Trusts are members and Mr. Hill is a manager. Mr. Hill disclaims beneficial ownership of the units held by this entity, except to the extent of his pecuniary interest.

F5: The units are held by a trust LLC, of which Mr. Hill's spouse is the manager. Mr. Hill disclaims beneficial ownership of the units held by this trust LLC, except to the extent of his pecuniary interest.