X0306 4 2015-07-28 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 Common units representing limited partner interests 2015-07-28 4 C 0 26184 0.00 A 76109 D Common units representing limited partner interests 2015-07-28 4 S 0 26184 38.75 D 49925 D Common units representing limited partner interests 2015-07-28 4 C 0 225000 0.00 A 225000 I See footnote Blackstone Holdings partnership units 2015-07-28 4 C 0 26184 D Common units representing limited partner interests 26184 890902 D Blackstone Holdings partnership units 2015-07-28 4 C 0 225000 D Common units representing limited partner interests 225000 0 I See footnote Pursuant to an exchange agreement, the Reporting Person exchanged 26,184 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P. The price reported in Column 4 is a weighted average price. These units were sold in multiple transactions at prices ranging from $38.54 to $39.05, 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. Pursuant to an exchange agreement, the holder exchanged 225,000 Blackstone Holdings partnership units for an equal number of common units of The Blackstone Group L.P. 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. 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 holder 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. 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 2015-07-30