Blackstone Inc. — Director's Dealing 2017

May 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2017-05-02

Reporting Person: Finley John G (Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-01	Common units representing limited partner interests	G	50000	$0.00	Disposed	121556	Direct
2017-05-01	Common units representing limited partner interests	G	50000	$0.00	Acquired	80000	Indirect
2017-05-02	Common units representing limited partner interests	C	20000	$0.00	Acquired	141556	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-02	Blackstone Holdings partnership units	$	C	20000	Disposed		Common units representing limited partner interests (20000)	Direct

Footnotes

F1: The Form 4 filed by the Reporting Person on February 16, 2017 inadvertently reported the sale of 20,000 common units from the Reporting Person's direct holdings. These units were instead sold by the limited liability company described herein. These numbers reflect the corrected beneficial ownership amounts.

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

F3: Pursuant to an exchange agreement, the Reporting Person exchanged 20,000 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P.

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, 2017 other than pursuant to transactions or programs approved by Blackstone.