Blackstone Inc. — Director's Dealing 2015

Jul 30, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2015-07-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-07-28	Common units representing limited partner interests	C	200000	$0.00	Acquired	1168591	Direct
2015-07-28	Common units representing limited partner interests	G	200000	$0.00	Disposed	968591	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-07-28	Blackstone Holdings partnership units	$	C	200000	Disposed		Common units representing limited partner interests (200000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	991371	Indirect
Common units representing limited partner interests	707071	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Blackstone Holdings partnership units	$		Common units representing limited partner interests (2683308)	2683308	Indirect
Blackstone Holdings partnership units	$		Common units representing limited partner interests (5636348)	5636348	Indirect

Footnotes

F1: Pursuant to an exchange agreement, the Reporting Person exchanged 200,000 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P.

F2: The Reporting Person donated 200,000 Blackstone common units to a charitable organization.

F3: These units are held by a personal LLC, of which the Reporting Person is a manager.

F4: The units are held by a trust LLC, of which the Reporting Person's spouse is the manager.

F5: 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 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, 2015 other than pursuant to transactions or programs approved by Blackstone.

F6: Such Blackstone Holdings partnership units are held by a limited liability company controlled by the Reporting Person.

F7: 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.