Paul O’Neill Becomes Special Advisor to Blackstone

New York The Blackstone Group announced today that Paul O’Neill has agreed to act as Special Advisor to the firm. Mr. O’Neill’s primary focus in his role at Blackstone will be to advise the firm’s private equity funds’ portfolio companies on operational and related issues, and to assist the firm in analyzing potential private equity investment opportunities. In addition Mr. O’Neill will join Blackstone’s Advisory Board.

Stephen A. Schwarzman, President and CEO of The Blackstone Group, said: “To have the counsel and advice of someone of Paul O’Neill’s stature, and with his track record as an extremely successful CEO, will be of immense value to our firm. We are very pleased that he has chosen to work with us.”

Paul O’Neill added: “I am delighted to be working with a firm that has such an outstanding reputation as Blackstone. Their success across the range of their businesses has made them a true leader in the world of finance.”

Paul O’Neill served as Treasury Secretary from 2000 to 2002. Prior to that he was Chairman and Chief Executive Officer of Alcoa Inc. for 12 years overseeing an eightfold increase in Alcoa’s market value during his tenure as CEO. Before that he was with International Paper Company where he became President in 1985.

The Blackstone Group, a private investment bank with offices in New York and London, was founded in 1985. The firm has raised a total of approximately $24 billion for alternative asset investing since its formation. Over $14 billion of that has been for private equity investing, including Blackstone Capital Partners IV, the largest institutional private equity fund ever raised at $6.45 billion. In addition to Private Equity Investing, The Blackstone Group’s core businesses are Private Real Estate Investing, Corporate Debt Investing, Marketable Alternative Asset Management, Mergers and Acquisitions Advisory, and Restructuring and Reorganization Advisory.