Dr. Alan Muney Joins Blackstone’s Private Equity Group

New York, November 6, 2007: The Blackstone Group (NYSE:BX) today announced that Dr. Alan Muney has joined the firm’s private equity team as an Executive Director. Alan will lead an effort across Blackstone’s 52 portfolio companies to manage their healthcare benefits so as to deliver the optimal coverage in a cost effective way to their employees. This is a new position at Blackstone.

Before joining Blackstone, Alan was the executive vice president and chief medical officer of Oxford Health Plans and chief medical officer of United Healthcare of the Northeast region. Prior to that, he was senior vice president and chief medical officer for Avanti Health systems, a division of NYLCare health plans. He was also regional medical director for Mullikin Medical Centers, a large multi-specialty medical group in California. In these positions, Alan had responsibility for business development, restructuring, utilization, quality and disease management programs, employer health benefit design strategies, and external relationships with providers, regulators, and the media. He is a frequent lecturer on issues in managed health care.

James Quella, Senior Managing Director, said, “Alan’s extensive experience in the healthcare field together with his strong background in designing and managing healthcare plans will be an invaluable resource for our portfolio companies as they take on the challenge of finding new and innovative ways of managing their health care costs while ensuring their employees are appropriately covered.”

Alan received his Bachelor of Science in Biology and his Doctor of Medicine degrees from Brown University, and a Masters in Health Administration from the University of La Verne.

About The Blackstone Group

The Blackstone Group 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 opportunity funds, funds of hedge funds, mezzanine funds, senior debt funds, proprietary hedge funds 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 services.