Blackstone Inc. — Director's Dealing 2014

Feb 14, 2014

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2013-12-31

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-09-25	Blackstone Holdings partnership units	$	G	250000	Disposed		Common units representing limited partnership units (250000)	Direct
2013-09-25	Blackstone Holdings partnership units	$	G	250000	Acquired		Common units representing limited partnership units (250000)	Indirect
2013-09-17	Blackstone Holdings partnership units	$	G	340823	Disposed		Common units representing limited partnership units (340823)	Indirect
2013-09-17	Blackstone Holdings partnership units	$	G	340823	Acquired		Common units representing limited partnership units (340823)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Blackstone Holdings partnership units	$		Common units representing limited partnership units (5636348)	5636348	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 Reporting Person has the rights, 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 may not be exchanged at any time prior to December 31, 2014 other than pursuant to transactions or programs approved by Blackstone.

F2: Such Blackstone holdings partnership units are held by the Reporting Person's spouse.

F3: Such Blackstone Holdings partnership units are held in a Grantor Retained Annuity Trust for which the spouse of the Reporting Person is the investment trustee.

F4: Such Blackstone Holdings partnership units are held in a trust, for the benefit of the Reporting Person's children, of which the spouse of the Reporting Person is the investment trustee.

F5: Such Blackstone Holdings partnership units are held in a trust, for the benefit of the Reporting Person's children, of which the Reporting Person is the investment trustee.

F6: Reflects annuity payments from Grantor Retained Annuity Trusts to the Reporting Person.