Dr. Axel Herberg To Join Blackstone to Head Private Equity Business in Germany, Switzerland and Austria

New York – The Blackstone Group (NYSE: BX) today announced that Dr. Axel Herberg will join it as a Senior Managing Director to head its private equity business in Germany, Switzerland and Austria. Dr. Herberg is currently President and Chief Executive Office of Gerresheimer AG, a leading international manufacturer of specialty glass and plastic products for the pharmaceutical & life science industries. Dr. Herberg will leave his position as CEO in June of 2010 and will take up this new position at Blackstone in the Fall this year. He will be based in Dusseldorf.

Stephen A. Schwarzman, Chairman and Chief Executive Officer of Blackstone, commenting on the appointment, said: “Dr Herberg has had a distinguished career both as a consultant and in business. In particular we have had the opportunity to work with him very closely while we were invested in Gerresheimer. His success in adding value and creating operational improvements at Gerresheimer fits perfectly with the Blackstone private equity model. We see major opportunities in the German, Swiss and Austrian markets and we are pleased to have Dr. Herberg lead our business in these countries.”

Dr. Herberg added: “I am delighted to be joining Blackstone. They have been true long-term partners with me at Gerresheimer as we have created one of the world’s leading companies in its field. I look forward to working with them in replicating our success there with other investments in Germany and the region.”

Dr. Herberg has been CEO of Gerresheimer since 2000. Before that, he had other positions within the company and had worked as a consultant with McKinsey. He holds a Ph. D in Economics, a graduate degree in Engineering from the University of Aachen, and a graduate degree in Economics from the University of Hamburg

About The Blackstone Group

Blackstone is one of the world’s leading investment and advisory firms. Its alternative asset management businesses include the management of private equity funds, real estate funds, hedge funds, credit-oriented 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 services. Further information is available at www.blackstone.com.

Blackstone Contact:
Public Affairs
New York
+1 212.583.5263

For German Press:
Mirko Wollrab
CNC AG Frankfurt
+49 (0) 69 506037561
+49 (0)172 6733826