Blackstone Makes Senior Appointment in Turkey

London, 17 April, 2008: The Blackstone Group (NYSE:BX) today announces that Kemal Kaya has joined the firm’s global private equity team as a Senior Advisor. Based in Turkey, Mr. Kaya will focus principally on developing business initiatives and advising Blackstone on potential transactions in the region. David Blitzer, Senior Managing Director at Blackstone in London, commented: “Blackstone’s leading market position is in part due to its powerful international network. We’re building on that with this appointment in what is an attractive and high growth market. Kemal is a highly experienced, well-connected professional who also brings a broad external perspective to the firm.”

Before joining Blackstone, Mr. Kaya was the CEO of Yapi Kredi Group, one of the leading financial groups in Turkey. He assumed this position after leading Turkey’s first and largest privately owned bank acquisition by Koc Financial Services. Under his leadership, Yapi Kredi Bank and Kocbank, a banking company under Koc Financial Services, were merged. It is to date the biggest merger in the Turkish banking sector. Before the merger of two banks, Mr. Kaya served as General Manager of Kocbank and CEO of Koc Financial Services, a financial holding company of a strategic partnership between Koc Holding, Turkey’s leading industrial group, and UniCredit, one of the largest financial services organization in Europe with a presence in 23 countries. Mr. Kaya also played a leading role in the realization of Koc- UniCredit 2002, the first foreign partnership established in the financial sector in Turkey. Earlier in his career, he held also various senior positions in financial institutions and investor relations management with Yapi Kredi Bank.

Kemal commented on his appointment to the team: “Blackstone is a world-class business with an enviable track record of supporting complex revenue growth investment opportunities throughout the world. I’m looking forward to combining that experience with my local knowledge to create more opportunities for the business.”

Mr. Kaya was educated in the United States and received his Bachelor of Science in Business Administration from the University of Kansas.

For more information contact:

Helen Winning, Blackstone European Corporate Communications
+44 (0) 207451 4344 or [email protected]

About The Blackstone Group

The Blackstone Group L.P. is a leading global alternative asset manager and provider of financial advisory services. Its alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds and closed-end mutual funds. The Blackstone Group L.P. also provides various financial advisory services, including corporate and mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. Further information is available at