Blackstone Inc. — Director's Dealing 2016

Aug 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2016-08-02

Reporting Person: Finley John G (Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-02	Common units representing limited partner interests	C	50000	$0.00	Acquired	120745	Direct
2016-08-02	Common units representing limited partner interests	G	50000	$0.00	Disposed	70745	Direct
2016-08-02	Common units representing limited partner interests	G	50000	$0.00	Acquired	50000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-02	Blackstone Holdings partnership units	$	C	50000	Disposed		Common units representing limited partner interests (50000)	Direct

Footnotes

F1: Pursuant to an exchange agreement, the Reporting Person exchanged 50,000 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P.

F2: These units are held by a limited liability company, of which the Reporting Person is the manager.

F3: 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.

F4: Includes 5,747 Blackstone Holdings partnership units issued on October 1, 2015 as an anti-dilution adjustment in connection with the spin-off of PJT Partners Inc. by The Blackstone Group L.P.