X0306 4 2015-07-01 0 0001393818 Blackstone Group L.P. BX 0001307496 Tosi Laurence A C/O THE BLACKSTONE GROUP 345 PARK AVENUE, 43RD FLOOR NEW YORK NY 10154 0 1 0 0 Chief Financial Officer Blackstone Holdings partnership units 2015-07-01 4 A 0 117790 0.00 A Common units representing limited partner interests 117790 917086 D Blackstone Holdings partnership units Common units representing limited partner interests 225000 225000 I See footnote 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 Reporting Person 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. Granted under the 2007 Equity Incentive Plan, 20% of these deferred restricted Blackstone Holdings partnership units, or 23,558 units, will vest on July 1, 2018; an additional 30%, or 35,337 units, will vest on July 1, 2019; and the remaining 50%, or 58,895 units, will vest on July 1, 2020. As these deferred restricted Blackstone Holdings partnership units vest, the underlying Blackstone Holdings partnership units will be delivered to the Reporting Person, except that no more than 3/4 of the vested units will be delivered during the Reporting Person's service with Blackstone (with the remaining units to be delivered after the expiration of the Reporting Person's restrictive covenant period). Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone. These units are held in a trust for the benefit of the Reporting Person's children, of which the Reporting Person is a trustee with investment control. The Reporting Person disclaims beneficial ownership of the securities reported on this form except to the extent of his pecuniary interest. Tabea Y. Hsi as Attorney-In-Fact 2015-07-06