Olivier Meyohas to Head BAAM London

London:  Blackstone Alternative Asset Management (“BAAM”), the fund of hedge funds segment of The Blackstone Group (NYSE:BX) with approximately $31 billion under management at the end of June 2008, today announced that Olivier Meyohas has joined as a Managing Director to head its London office and lead its business in Europe, the Middle East & Africa.

Gideon Berger, who has led the firm’s London office since the end of 2006, has been named Chief Risk Officer and will return to New York.

Mr. Meyohas will sit on BAAM’s Executive Committee and Investment Committee and will report to J. Tomilson Hill, Vice Chairman of The Blackstone Group and President and CEO of BAAM.

Prior to joining BAAM, Mr. Meyohas spent the last 16 years at Goldman Sachs in London, where he was a Managing Director and last served as co-Head of the Pension Advisory Group.

Commenting on the appointment, J.Tomilson Hill said: “we are thrilled that Oli is joining us to build on the business momentum and success in Europe, the Middle East and Asia that BAAM has achieved under Gideon and his team. Oli’s deep knowledge of pensions and his advisory approach naturally fit our customer solution focus. He will add tremendous value to BAAM and our clients.”

Mr. Meyohas added “I am delighted to join the world’s leading alternative asset manager and I look forward to continuing BAAM’s dedication to delivering superior service and returns, developing our people and further enhancing our reputation. The experience I have working with some of Europe’s largest pension funds will hopefully be additive to BAAM’s existing efforts to solve the complex investment challenges faced by the biggest institutional investors in the world – particularly in these challenging markets.”

Mr. Meyohas received a BA (Hons) in Modern History from Pembroke College, Oxford.

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.

BAAM, which was formed in 1990 and had approximately $31 billion under management as at the end of June 2008, has grown to over 120 professionals with experience in capital markets, portfolio management, risk management, auditing and clients relationship management. BAAM’s London presence was established in 2001 and currently employs 15 professionals spearheading the group’s efforts in Europe. BAAM also has a presence in Hong Kong.

Further information is available at www.blackstone.com.

For further information please contact:
John A. Ford
The Blackstone Group, New York
+1 212 583 5559

Steve Bruce/ Pen Pendleton
The Abernathy MacGregor Group, New York
+1 212 371 5999

Helen Winning
The Blackstone Group, London
+44 20 7451 4344

Neil Bennett
Maitland, London
+44 20 7379 5151