Laurence Tosi to Join the Blackstone Group as Chief Financial Officer

New York, June 9, 2008: The Blackstone Group (NYSE: BX) today announced that Laurence A. Tosi will join the firm as Chief Financial Officer. Mr. Tosi was previously the Chief Operating Officer for the Global Markets and Investment Banking Group of Merrill Lynch & Co. Before, he was Senior Vice President and Finance Director responsible for Merrill Lynch’s global 2,600-person finance organization, including worldwide accounting, regulatory reporting, budgeting and corporate development. Mr. Tosi will serve on Blackstone’s Executive Committee. He is expected to take up his position after the summer.

Michael Puglisi, Blackstone’s current Chief Financial Officer, will remain as a Senior Managing Director and a member of senior management. He will work closely with Mr. Tosi in the finance group, while also taking leadership of other firm matters and special projects for Stephen A. Schwarzman, Blackstone’s co-founder and CEO, and Tony James, its President and Chief Operating Officer.

Commenting on Mr. Tosi’s appointment, Mr. Schwarzman said: “I am very pleased that Laurence will be joining Blackstone as Chief Financial Officer. Blackstone’s businesses continue to expand in new markets and with new products. Laurence’s deep knowledge of financial services and finance will be a tremendous resource for us.”

Mr. Schwarzman continued: “We are also pleased that Mike will remain at the firm and assume these new roles going forward. In his 14 years at the firm, he has been an integral part of Blackstone’s transition from a small partnership to the largest independent alternative asset manager in the world. Tony and I are looking forward to his continuing advice and counsel.”

Added Mr. Tosi: “I am excited to be joining Blackstone and becoming a part of the next stage of its growth as a public company. The firm’s reputation and business is second to none and it is superbly positioned to take advantage of the many opportunities that the markets are now presenting.”

Mr. Tosi earned a BA, a JD and an MBA from Georgetown University.

About The Blackstone Group

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of corporate private equity funds, real estate funds, hedge funds, funds of funds, debt funds, collateralized loan obligation vehicles (CLOs) and closedend mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement service. Further information is available at


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