Blackstone Opens Private Equity Office in Hong Kong

New York, January 10, 2007: Blackstone today announced plans to open a private equity office in Hong Kong to expand its investment activities in the Asia Pacific region. Blackstone also announced that Antony Leung has joined the firm as a Senior Managing Director and Chairman of Blackstone Greater China. Mr. Leung will co-head the expanded Hong Kong office along with Ben Jenkins, a Senior Managing Director, who will be relocating with a team from New York.

Blackstone’s first office in Asia was established in Mumbai in 2005 to handle Private Equity and Real Estate investments. That was followed by a satellite office in Hong Kong last year to support the firm’s Fund of Hedge Funds operations. While the primary focus of the expanded Hong Kong office will be sourcing and managing new private equity transactions, the office will also assist existing portfolio companies in entering or expanding in the region and providing support for Blackstone’s other businesses.

Blackstone will seek to invest in leading companies across industries in both emerging and developed economies throughout the region. Investments may take the form of traditional buyouts and growth equity as well as Blackstone’s signature corporate partnership transactions.

According to Stephen A. Schwarzman, Blackstone’s Chairman, CEO and co-founder, “We are impressed by the impact of the economic reforms that have been taking place in the world’s fourth largest economy and elsewhere in that region. We believe that significant foreign direct investment in the Chinese economy is vital to its continued growth and development and look forward to playing an integral role in that process, not only in China but throughout the Asia Pacific region.”

Antony Leung has over 30 years of financial services and public sector experience. He was the former Financial Secretary of Hong Kong from 2001 to 2003. Prior to that he was Chairman of Asia with JP Morgan and previously at Citicorp in various positions including Head of North Asia and South West Asia Investment Banking, Head of Asia Private Banking, Regional Treasurer, and Country Corporate Officer of Hong Kong and China. He sits on the boards of the Industrial and Commercial Bank of China, American International Assurance Company and Heifer International, Hong Kong.

“I am delighted to join Blackstone, the world’s foremost private equity firm,” said Antony Leung, adding, “Blackstone’s tremendous financial strength and skills, together with its vast global network of strategic partners, will enable us to bring significant benefits to the region.”

Ben Jenkins added; “I am tremendously excited about the challenge and opportunity of building our business in Asia Pacific. It is the most dynamic region in the world and the one that will have the most impact on the global economy in our lifetime. Over time I believe our strategy of partnering with industry leading companies and management teams can be as successful in Asia as it has been in the US and Europe.”

Blackstone will build its Asia Pacific presence by drawing upon a combination of experienced staff from its operations in the United States and Europe as well as hiring established, successful local professionals. The firm may open additional offices in the region as its business grows.

About The Blackstone Group

The Blackstone Group, a global private investment and advisory firm, was founded in 1985. The firm has raised approximately $70 billion for alternative asset investing since its formation of which over $30 billion has been for private equity investing. The Private Equity Group is currently investing its fifth general private equity fund with commitments of $15.6 billion, and has over 80 experienced professionals with broad sector expertise. Blackstone’s other core businesses include Private Real Estate Investing, Corporate Debt Investing, Hedge Funds, Mutual Fund Management, Private Placement, Marketable Alternative Asset Management, and Investment Banking Advisory Services. Further information is available at