Aug 03, 2008

Blackstone Opens Beijing Office

Beijing Aug. 4th, 2008 and New York Aug.3rd, 2008: The Blackstone Group (NYSE: BX) today announced that it is opening a representative office in Beijing with Mr. Shan Fu as its chief representative, based in Beijing.

Before joining Blackstone in 2008, Mr. Fu was Vice President of Beijing Mainstreets Investment Group. Before that, he worked in China’s National Development and Reform Commission (“NDRC”), the State Economic and Trade Commission of China, the Office of Economic and Trade in State Council of China, and the Office of Production of the State Council of China.

Commenting on the office opening and the appointment of Mr. Fu, Mr. Stephen A. Schwarzman, Chairman, CEO and Co- Founder, of Blackstone, said: "The opening of our Beijing office and the appointment of Shan further underlines our deep commitment to China and the Chinese market. We welcome Shan to the firm and we look forward to working together."

Mr. Antony Leung, Blackstone's Chairman for Greater China, added: "We see tremendous opportunities both in China and to partner with Chinese companies outside of China. The opening of our Beijing office and the appointment of Shan gives us another great resource to take advantage of those opportunities."

Mr. Shan Fu commented: "I am very excited about joining Blackstone as its Chief Representative in Beijing. I look forward to working with the Blackstone China team to channel the global reach and resources of Blackstone’s alternative asset and advisory platform and increase its presence in the China markets."

Mr. Fu received a Bachelor's and Master's Degree in History from Peking University in Beijing, China.

Contacts:

Peter Rose
New York
+1 212 583 5871
rose@blackstone.com

John Ford
New York 
 +1 212 583 5559 
ford@blackstone.com

Sophia Harrison
London  
+44 20 7451 4295
harrison@blackstone.com 

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 http://www.blackstone.com/.