Blackstone Inc. — Director's Dealing 2013

Jul 26, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2013-07-24

Reporting Person: SCHWARZMAN STEPHEN A (Director, Chairman and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-07-24	Blackstone Holdings Partnership units	$	S	1301025	Disposed		Common units representing limited partnership units (1301025)	Indirect
2013-07-24	Blackstone Holdings Partnership units	$	P	1301025	Acquired		Common units representing limited partnership units (1301025)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Blackstone Holdings Partnership units	$		Common units representing limited partnership units (1666666)	1666666	Indirect
Blackstone Holdings Partnership units	$		Common units representing limited partnership units (1438529)	1438529	Indirect

Footnotes

F1: A "Blackstone Holdings partnership" unit collectively refers to one limited partner interest in each of Blackstone Holdings I L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. Subject to the minimum retained ownership requirements and transfer restrictions set forth in the partnership agreements of the Blackstone partnerships, the holder has the right, exercisable from time to time, to exchange each Blackstone Holdings partnership unit for one common unit of The Blackstone Group L.P. The Blackstone Holdings partnership units have no expiration date and are not exchangeable prior to December 31, 2014 other than pursuant to transactions or programs approved by Blackstone.

F2: Reflects certain transfers made between a number of Grantor Retained Annuity Trusts and the Reporting Person during 2012 and 2013. Such transfers were exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934 (the "Exchange Act").

F3: Such Blackstone Holdings partnership units are held in a number of Grantor Retained Annuity Trusts, for which the Reporting Person or certain family members serve as investment trustee.

F4: Such Blackstone Holdings partnership units are held in a number of trusts, for which the beneficiaries are various descendants of the Reporting Person, and for which the Reporting Person is the investment trustee.

F5: Reflects a transfer from a number of trusts for which the beneficiaries are various descendants of the Reporting Person, to the Reporting Person.

F6: Such Blackstone Holdings partnership units are held in a corporation in which the Reporting Person is a controlling shareholder.