Blackstone Alternative Asset Management Names Edwin Conway to Lead US Marketing and Distribution Efforts

New York; November 2, 2005: The Blackstone Group today announced that Edwin Conway has joined Blackstone Alternative Asset Management (BAAM) as a Managing Director. Conway was previously an Executive Director at Arden Asset Management, Inc.

Conway, based in New York, will lead BAAM’s U.S. marketing and distribution efforts and his responsibilities will include business development and the broadening of BAAM’s relationships with pension fund consultants and distributors.

“Edwin is a seasoned investment professional with deep institutional relationships that mirror our client base,” said J. Tomilson Hill, Vice Chairman of The Blackstone Group and President and CEO of BAAM. “His focus will be on strengthening and expanding those relationships as our clients seek pure alpha solutions to meet their critical funding obligations.”

“As pensions and endowments increase their exposure to alternative investments they will need trusted partners to help them construct the right portfolios and allocations,” said Conway. “BAAM’s institutional focus and solution driven approach makes us the ideal partners to help generate good risk-adjusted returns over time.”

Prior to Arden, Conway spent eight years at Credit Suisse Asset Management, where he held several senior roles, including Director and Head of Relationship Management and New Business Development for U.S. Public Fund and Taft-Hartley clients.

Conway received a Bachelor of Commerce degree with honors from University College Dublin, and earned a National Certificate with honors in Business Studies from the Carlow Institute of Technology in Ireland.

BAAM has a long history of strong relationships with institutional investors built on its in-depth due diligence and research processes, risk management and specialized reporting capabilities.

Blackstone Alternative Asset Management

The Blackstone Group, a private investment and advisory firm with offices in New York, London, Hamburg and Paris was founded in 1985. BAAM, the firm’s marketable alternatives multi-manager investment management business, was formed in 1990 and has over $10 billion in discretionary marketable alternative assets. BAAM has grown to over 70 experienced professionals with deep experience in capital markets, portfolio management, risk management, auditing and client relationship managing. The Blackstone Group’s other five core businesses are Corporate Advisory Services, Restructuring and Reorganization Advisory, Private Equity Investing, Private Real Estate Investing, and Corporate Debt Investing. The Blackstone Group has raised over $36 billion for private alternative asset investing.