Private Placement Advisory Overview

The Park Hill Group provides fund placement services for corporate private equity funds, real estate funds, venture capital funds and hedge funds. Park Hill Group primarily provides placement services to unrelated third-party sponsored funds. It also assists Blackstone in raising capital for its own investment funds from time to time and providing insights into new alternative asset products and trends.

The Park Hill Group was formed in 2005 with a focus on corporate private equity, mezzanine and venture capital funds. In June 2006 we added a team focused on real estate funds, and a team specializing in hedge funds and related vehicles.

The Park Hill Group has 90 employees as of September, 2008 with offices in New York, San Francisco, Chicago, Dallas, Los Angeles, London, and Tokyo.

Since it commenced operation in 2005, Park Hill Group has served as a placement agent to funds that raised in total in excess of $76.9 billion for 55 funds. Park Hill Group and our investment funds each benefit from the others' relationships with both limited partners and other fund sponsors.

For more information about the Park Hill Group, please visit them at www.parkhillgroup.com.