8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 18, 2008

THE BLACKSTONE GROUP L.P.

(Exact name of registrant as specified in its charter)

Delaware	001-33551	20-8875684
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

345 Park Avenue New York, New York	10154
(Address of principal executive offices)	(Zip Code)

(212) 583-5000

(Registrant’s telephone number, including area code)

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(d) On September 18, 2008, Jay O. Light was appointed to the board of directors of Blackstone Group Management L.L.C., the general partner (the “General Partner”) of The Blackstone Group L.P. (the “Partnership”).

Mr. Light will receive an annual cash retainer of $100,000. In addition, Mr. Light received upon his appointment a grant of 15,000 deferred restricted common units under the Partnership’s 2007 Equity Incentive Plan. These deferred restricted common units will vest, and the underlying common units will be delivered, in equal installments on each of the first, second and third anniversaries of the date of grant, subject to such director’s continued service on the board of directors of the General Partner.

A copy of the press release announcing the appointment of Mr. Light to the board of directors of the General Partner is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
Exhibit 99.1	Press release, dated as of September 18, 2008.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		The Blackstone Group L.P.
		By: Blackstone Group Management L.L.C., its general partner
Date:	September 18, 2008	By:	/s/ Robert L. Friedman
		Name:	Robert L. Friedman
		Title:	Chief Legal Officer

EX-99.1

Exhibit 99.1

Dean of Harvard Business School Joins Blackstone’s Board of Directors

New York, September 18, 2008: The Blackstone Group (NYSE: BX) today announced that Jay O. Light, the Dean of Harvard Business School, has joined the firm’s Board of Directors.

Since joining the HBS faculty in 1970 Jay Light has taught thousands of students in Harvard’s MBA and Doctoral programs, and in various executive programs for CFOs and investment managers. In the MBA program he has taught Investment Management, Capital Markets, Entrepreneurial Finance, and Negotiating Ventures. He co-authored “The Financial System” with W.L. White. As Senior Associate Dean and Director of Planning and Development (1998-2005) at HBS, he led the school’s strategic planning efforts and helped shape new educational and research program initiatives.

Stephen A. Schwarzman, Chairman, CEO and co-founder of Blackstone, said: “We could not be more pleased that Jay has agreed to serve on our Board. His extraordinary understanding of financial markets, his thoughtful academic approach, and his broad perspective on business and finance will be of great value to all of us at Blackstone. I’ve known Jay since 1970 when he taught decision theory at HBS and I was one of his first year students.”

Added Dean Light: “I am delighted to be joining the Board of one of the world’s leading alternative asset managers. I look forward to working with Blackstone’s management team as they set their strategy for taking advantage of opportunities in the world today. “

Jay Light joins three other distinguished independent directors on the Board - Richard Jenrette, the Rt. Hon. Brian Mulroney, and William Parrett.

About The Blackstone Group

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of corporate private equity funds, real estate funds, hedge funds, funds of funds, debt funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement service. Further information is available at www.blackstone.com.

Contact:

John Ford

The Blackstone Group

212 583 5559

ford@blackstone.com

The Blackstone Group^® L.P.

345 Park Avenue

New York, NY 10154

212 583-5000