Blackstone Inc. — Director's Dealing 2016

Dec 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2016-11-08

Reporting Person: Finley John G (Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-08	Common units representing limited partner interests	C	30000	$0.00	Acquired	100745	Direct
2016-12-19	Common units representing limited partner interests	S	10000	$29.00	Disposed	90745	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-08	Blackstone Holdings partnership units	$	C	30000	Disposed		Common units representing limited partner interests (30000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	50000	Indirect

Footnotes

F1: Pursuant to an exchange agreement, the Reporting Person exchanged 30,000 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P.

F2: The price reported in Column 4 is a weighted average price. These units were sold in multiple transactions at prices ranging from $29.00 to $29.01, inclusive. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of units sold at each separate price for all transactions reported on this Form 4.

F3: These units are held by a limited liability company, of which the Reporting Person is the manager.

F4: 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., Blackstone Holdings IV L.P. and Blackstone Holdings AI 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 may not be exchanged at any time prior to December 31, 2016 other than pursuant to transactions or programs approved by Blackstone.