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 <p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><a name="scotch"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">As filed with the Securities and Exchange Commission on June 21, 2007.</font></b></a></p> <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p align="right" style="border:none;margin:0pt 0pt 6.0pt;padding:0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p> </div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
D.C. 20549</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM S-8</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">The Blackstone Group L.P.</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Exact name of registrant as specified in its charter)</font></b></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Delaware</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">20-8875684</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">incorporation or
  organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification
  Number)</font></p>
  </td>
 </tr>
</table>

</div>

<div style="line-height:9.0pt;margin:12.0pt 0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">345 Park Avenue</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">New York, New York 10154</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telephone: (212) 583-5000</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Address, including zip code, and telephone number,
including area code, of principal executive offices)</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">The
Blackstone Group L.P. 2007 Equity Incentive Plan</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full Title of the Plan)</font></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Robert L. Friedman</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Chief Legal Officer</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The Blackstone Group L.P.</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">345 Park Avenue</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">New York, New York 10154</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telephone: (212) 583-5000</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Name and address, including zip code, and telephone
number, including area code, of agent for service)</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies to:</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joshua Ford Bonnie</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Simpson Thacher &amp; Bartlett LLP</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">425 Lexington Avenue</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10017-3954</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telephone: (212) 455-2000</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (212) 455-2502</font></b></p>

<div style="line-height:9.0pt;margin:12.0pt 0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt 6.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CALCULATION
OF REGISTRATION FEE</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="33%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:33.82%;">
  <p style="font-size:8.0pt;font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><!-- SET mrlNoTableShading -->Title&nbsp;of&nbsp;securities&nbsp;to&nbsp;be<br>
  registered</p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:8.0pt;padding:0pt;">Amount&nbsp;to&nbsp;be<br>
  registered(1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:8.0pt;padding:0pt;">Proposed&nbsp;maximum<br>
  offering&nbsp;price&nbsp;per<br>
  Unit(2)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:8.0pt;padding:0pt;">Proposed&nbsp;maximum<br>
  aggregate&nbsp;offering<br>
  price(2)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:8.0pt;padding:0pt;">Amount&nbsp;of<br>
  registration&nbsp;fee</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:11.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:33.82%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common
  Units Representing Limited Partner Interests</font></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:10.0pt;padding:0pt;">163,000,000<br>
  Common Units</font></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:10.0pt;padding:0pt;">$31.00</font></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:10.0pt;padding:0pt;">$5,053,000,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:14.08%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:10.0pt;padding:0pt;">$155,127</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="border:solid white 1.0pt;font-size:1.0pt;padding:0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Covers
common units representing limited partner interests in The Blackstone Group
L.P. (&#147;Common Units&#148;) under The Blackstone Group L.P. 2007 Equity Incentive
Plan (the &#147;Plan&#148;) and, pursuant to Rule 416(a) under the Securities Act of
1933, an indeterminate amount of additional Common Units that may be offered
and issued to prevent dilution resulting from unit splits, unit distributions or
similar transactions.</p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Calculated pursuant
to Rule 457(h) based on a price of $31.00 per Common Unit, which is the
high-point of the estimated price range per Common Unit for the Registrant&#146;s
initial public offering of Common Units pursuant to the Registrant&#146;s
Registration Statement on Form S-1 (File No. 333-141504).</p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PART I</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</font></b></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The documents
containing the information specified in this Part I will be delivered to the
participants in The Blackstone Group L.P. 2007 Equity Incentive Plan (the &#147;Plan&#148;)
covered by this Registration Statement as required by Rule 428(b)(1).&#160; Such documents are not required to be filed
with the Securities and Exchange Commission as part of this Registration
Statement.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PART II</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></b></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 3.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Incorporation
of Documents by Reference.</font></b></p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following
documents filed with the Securities and Exchange Commission (the &#147;Commission&#148;)
by The Blackstone Group L.P. (the &#147;Partnership&#148;) pursuant to the Securities Act
and the Securities Exchange Act of 1934</font>, as amended (the &#147;Exchange Act&#148;), are hereby incorporated by reference
in this Registration Statement:</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 58.5pt;text-align:left;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Partnership&#146;s Prospectus dated on or about June 21, 2007
to be filed pursuant to Rule 424(b) of the Securities Act (Registration No.
333-141504) (the &#147;Prospectus&#148;); and</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 58.5pt;text-align:left;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Partnership&#146;s Registration Statement on
Form 8-A (File No. 001-33551),
filed on June 19, 2007.</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All documents that
the </font>Partnership
subsequently files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment to this
Registration Statement indicating that all securities offered have been sold or
which deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference into this Registration Statement and to be a part
hereof from the date of filing of such documents.</p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.</font></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 4.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Description
of Securities.</font></b></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Interests
of Named Experts and Counsel.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not
applicable.</font></p>


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<p align="left" style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 6.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Indemnification of Directors and Officers.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The section of the Prospectus entitled &#147;Material
Provisions of The Blackstone Group L.P. Partnership Agreement&#151;Indemnification&#148;
discloses that the Partnership will generally indemnify its general partner,
officers, directors and affiliates of the general partner and certain other
specified persons to the fullest extent permitted by the law against all
losses, claims, damages or similar events and is incorporated herein by this
reference. Subject to any terms, conditions or restrictions set forth in the
partnership agreement, Section 17-108 of the Delaware Revised Uniform Limited
Partnership Act empowers a Delaware limited partnership to indemnify and hold
harmless any partner or other persons from and against all claims and demands
whatsoever.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Partnership currently maintains liability
insurance for directors and officers of its general partner. Such insurance
would be available to directors and officers in accordance with its terms.</font></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 7.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exemption
from Registration Claimed.</font></b></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibits.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following exhibits are filed as part of this registration
statement:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Description
of Document</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->Exhibit<br>
  Number</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="90%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Description
  of Document</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certificate of Limited Partnership of The Blackstone
  Group L.P. (incorporated by reference to Exhibit&nbsp;3.1 of the
  Partnership&#146;s Registration Statement on Form S-1 filed March 22, 2007 (File No.
  333-141504)).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Amended and Restated Agreement of Limited
  Partnership of The Blackstone Group L.P. (incorporated by reference to
  Appendix A to the Prospectus).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of The Blackstone Group L.P. 2007 Equity
  Incentive Plan (incorporated by reference to Exhibit 10.9 of Amendment
  No.&nbsp;3 of the Partnership&#146;s Registration Statement on Form S-1 filed on
  June&nbsp;4, 2007 (File No. 333-141504)).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Simpson Thacher &amp; Bartlett LLP.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Deloitte &amp; Touche LLP.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Simpson Thacher &amp; Bartlett LLP
  (included as part of Exhibit 5.1).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (included in the signature pages
  to this Registration Statement).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Undertakings.</font></b></p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned
registrant hereby undertakes:</font></p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 54.0pt;text-align:left;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 81.0pt;text-align:left;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933.</p>


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<p style="margin:0pt 0pt .0001pt 81.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="15%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:15.86%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt 45.0pt;"><!-- SET mrlNoTableShading -->(ii)</p>
  </td>
  <td width="84%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:84.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To reflect in the prospectus any facts or events
  arising after the effective date of the registration statement (or the most
  recent post-effective amendment thereof) which, individually or in the
  aggregate, represent a fundamental change in the information set forth in the
  registration statement. Notwithstanding the foregoing, any increase or
  decrease in volume of securities offered (if the total dollar value of
  securities offered would not exceed that which was registered) and any
  deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant
  to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than 20 percent change in the maximum aggregate offering
  price set forth in the &#147;Calculation of Registration Fee&#148; table in the
  effective registration statement.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="15%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:15.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:84.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="15%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:15.86%;">
  <p style="margin:0pt 0pt .0001pt 45.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:84.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To include any material information with respect to
  the plan of distribution not previously disclosed in the registration
  statement or any material change to such information in the registration
  statement;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt 81.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 27.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">provided, however</font></i>, that (A) Paragraphs (a)(1)(i) and (a)(1)(ii)
of this section do not apply if the registration statement is on Form S&#151;8
(&#167;239.16b of this chapter), and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with
or furnished to the Commission by the registrant pursuant to section 13 or
section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d))
that are incorporated by reference in the registration statement; and (B) paragraphs
(a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the registration
statement is on&#160; and the information
required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the
registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement,
or is contained in a form of prospectus filed pursuant to Rule 424(b) that is
part of the registration statement;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 27.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">provided
further, however</font></i>, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the registration statement is for an offering of asset-backed
securities on Form S-1 or Form S-3, and the information required to be included
in a post-effective amendment is provided pursuant to Item 1100(c) of
Regulation AB.</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 54.0pt;text-align:left;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>That, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 54.0pt;text-align:left;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</p>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned
registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the registrant&#146;s annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is
incorporated by reference in this registration statement shall be deemed to be
a new registration statement relating to the securities offered herein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</font></p>


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<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insofar as
indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act, and is,
therefore, unenforceable.&#160; In the event
that a claim for indemnification against such liabilities (other than the
payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such issue.</font></p>


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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p align="left" style="margin:0pt 0pt 24.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements
of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of New York, State of
New York on June 21, 2007.</font></p>

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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="59%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:59.32%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->THE BLACKSTONE GROUP L.P.</p>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="59%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:59.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By: Blackstone
  Group Management L.L.C, its general partner</font></p>
  </td>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="59%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:59.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="59%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:59.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:40.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Michael
  A. Puglisi</font></font></p>
  </td>
  <td width="14%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:14.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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  <td width="44%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Michael A. Puglisi</font></p>
  </td>
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  <td width="44%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:44.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Chief Financial Officer</font></p>
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<p align="left" style="margin:0pt 0pt 12.0pt 166.5pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">POWER OF ATTORNEY</font></b></p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">KNOW ALL MEN </font>BY THESE PRESENTS, </font>that the undersigned directors and officers of
the general partner of Registrant, which is filing a Registration Statement on
Form S-8 with the Securities and Exchange Commission, Washington, D.C. 20549
under the provisions of the Securities Act of 1933 hereby constitute and
appoint Stephen A. Schwarzman, Hamilton E. James, Michael A. Puglisi and Robert
L. Friedman, and each of them, the individual&#146;s true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for the person and in his or her name, place and stead, in any
and all capacities, to sign such registration statement and any or all
amendments, including post-effective amendments to the registration statement,
and all other documents in connection therewith to be filed with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and
each of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises, as fully to
all intents and purposes as he might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact as agents or any of them, or
their substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.</p>

<p align="left" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:left;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed below by the following
persons in the capacities indicated on the 21</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">st</font>&#160;day of June, 2007.<b>  </b></p>

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  <td width="17%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:17.56%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:25.44%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:3.5%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Title</font></b></p>
  </td>
  <td width="19%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.5%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
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  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Stephen
  A. Schwarzman</font></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman
  and Chief Executive Officer and Director</font></p>
  </td>
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  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen A. Schwarzman</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(principal
  executive officer)</font></p>
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  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Peter G.
  Peterson</font></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
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  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter G. Peterson</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Hamilton
  E. James</font></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
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  <td width="48%" colspan="3" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:48.6%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hamilton E. James</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.42%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading -->/s/ J. <font style="text-transform:uppercase;">Tomilson Hill</font></p>
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Tomilson Hill</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Michael
  A. Puglisi</font></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial
  Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael A. Puglisi</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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 <tr style="page-break-inside:avoid;">
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ <font style="text-transform:uppercase;">Dennis J.
  Walsh</font></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal
  Accounting Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:48.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dennis J. Walsh</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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 </tr>
</table>

<p align="left" style="margin:0pt 0pt 12.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



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{"company-data": {"conformed-name": "Blackstone Group L.P.", "cik": "0001393818", "assigned-sic": "6282", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-143948", "film-number": "07934018"}, "business-address": {"street1": "345 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10154", "phone": "(212) 583-5000"}, "mail-address": {"street1": "345 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10154"}}
As filed with the Securities and Exchange Commission on June 21, 2007.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
The Blackstone Group L.P.
(Exact name of registrant as specified in its charter)
Delaware
20-8875684
(State or other
  jurisdiction of
(I.R.S. Employer
incorporation or
  organization)
Identification
  Number)
345 Park Avenue
New York, New York 10154
Telephone: (212) 583-5000
(Address, including zip code, and telephone number,
including area code, of principal executive offices)
The
Blackstone Group L.P. 2007 Equity Incentive Plan
(Full Title of the Plan)
Robert L. Friedman
Chief Legal Officer
The Blackstone Group L.P.
345 Park Avenue
New York, New York 10154
Telephone: (212) 583-5000
(Name and address, including zip code, and telephone
number, including area code, of agent for service)
With copies to:
Joshua Ford Bonnie
Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, New York 10017-3954
Telephone: (212) 455-2000
Facsimile: (212) 455-2502
CALCULATION
OF REGISTRATION FEE
Title of securities to be
registered
Amount to be
registered(1)
Proposed maximum
offering price per
Unit(2)
Proposed maximum
aggregate offering
price(2)
Amount of
registration fee
Common
  Units Representing Limited Partner Interests
163,000,000
Common Units
$31.00
$5,053,000,000
$155,127
(1)
Covers
common units representing limited partner interests in The Blackstone Group
L.P. ("Common Units") under The Blackstone Group L.P. 2007 Equity Incentive
Plan (the "Plan") and, pursuant to Rule 416(a) under the Securities Act of
1933, an indeterminate amount of additional Common Units that may be offered
and issued to prevent dilution resulting from unit splits, unit distributions or
similar transactions.
(2)
Calculated pursuant
to Rule 457(h) based on a price of $31.00 per Common Unit, which is the
high-point of the estimated price range per Common Unit for the Registrant's
initial public offering of Common Units pursuant to the Registrant's
Registration Statement on Form S-1 (File No. 333-141504).
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The documents
containing the information specified in this Part I will be delivered to the
participants in The Blackstone Group L.P. 2007 Equity Incentive Plan (the "Plan")
covered by this Registration Statement as required by Rule 428(b)(1).  Such documents are not required to be filed
with the Securities and Exchange Commission as part of this Registration
Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.        Incorporation
of Documents by Reference.
The following
documents filed with the Securities and Exchange Commission (the "Commission")
by The Blackstone Group L.P. (the "Partnership") pursuant to the Securities Act
and the Securities Exchange Act of 1934
, as amended (the "Exchange Act"), are hereby incorporated by reference
in this Registration Statement:
(a)
The Partnership's Prospectus dated on or about June 21, 2007
to be filed pursuant to Rule 424(b) of the Securities Act (Registration No.
333-141504) (the "Prospectus"); and
(b)
The Partnership's Registration Statement on
Form 8-A (File No. 001-33551),
filed on June 19, 2007.
All documents that
the
Partnership
subsequently files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment to this
Registration Statement indicating that all securities offered have been sold or
which deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference into this Registration Statement and to be a part
hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.
Item 4.        Description
of Securities.
Not applicable.
Item 5.        Interests
of Named Experts and Counsel.
Not
applicable.
Item 6.        Indemnification of Directors and Officers.
The section of the Prospectus entitled "Material
Provisions of The Blackstone Group L.P. Partnership Agreement—Indemnification"
discloses that the Partnership will generally indemnify its general partner,
officers, directors and affiliates of the general partner and certain other
specified persons to the fullest extent permitted by the law against all
losses, claims, damages or similar events and is incorporated herein by this
reference. Subject to any terms, conditions or restrictions set forth in the
partnership agreement, Section 17-108 of the Delaware Revised Uniform Limited
Partnership Act empowers a Delaware limited partnership to indemnify and hold
harmless any partner or other persons from and against all claims and demands
whatsoever.
The Partnership currently maintains liability
insurance for directors and officers of its general partner. Such insurance
would be available to directors and officers in accordance with its terms.
Item 7.        Exemption
from Registration Claimed.
Not applicable.
Item 8.        Exhibits.
The following exhibits are filed as part of this registration
statement:
Exhibit
Number                  Description
of Document
Exhibit
Number
Description
  of Document
4.1
Certificate of Limited Partnership of The Blackstone
  Group L.P. (incorporated by reference to Exhibit 3.1 of the
  Partnership's Registration Statement on Form S-1 filed March 22, 2007 (File No.
  333-141504)).
4.2
Form of Amended and Restated Agreement of Limited
  Partnership of The Blackstone Group L.P. (incorporated by reference to
  Appendix A to the Prospectus).
4.3
Form of The Blackstone Group L.P. 2007 Equity
  Incentive Plan (incorporated by reference to Exhibit 10.9 of Amendment
  No. 3 of the Partnership's Registration Statement on Form S-1 filed on
  June 4, 2007 (File No. 333-141504)).
5.1
Opinion of Simpson Thacher & Bartlett LLP.
23.1
Consent of Deloitte & Touche LLP.
23.2
Consent of Simpson Thacher & Bartlett LLP
  (included as part of Exhibit 5.1).
24.1
Power of Attorney (included in the signature pages
  to this Registration Statement).
Item 9.        Undertakings.
(a)           The undersigned
registrant hereby undertakes:
(1)
To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933.
(ii)
To reflect in the prospectus any facts or events
  arising after the effective date of the registration statement (or the most
  recent post-effective amendment thereof) which, individually or in the
  aggregate, represent a fundamental change in the information set forth in the
  registration statement. Notwithstanding the foregoing, any increase or
  decrease in volume of securities offered (if the total dollar value of
  securities offered would not exceed that which was registered) and any
  deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant
  to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than 20 percent change in the maximum aggregate offering
  price set forth in the "Calculation of Registration Fee" table in the
  effective registration statement.
(iii)
To include any material information with respect to
  the plan of distribution not previously disclosed in the registration
  statement or any material change to such information in the registration
  statement;
provided, however
, that (A) Paragraphs (a)(1)(i) and (a)(1)(ii)
of this section do not apply if the registration statement is on Form S—8
(§239.16b of this chapter), and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with
or furnished to the Commission by the registrant pursuant to section 13 or
section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d))
that are incorporated by reference in the registration statement; and (B) paragraphs
(a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the registration
statement is on  and the information
required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the
registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement,
or is contained in a form of prospectus filed pursuant to Rule 424(b) that is
part of the registration statement;
provided
further, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the registration statement is for an offering of asset-backed
securities on Form S-1 or Form S-3, and the information required to be included
in a post-effective amendment is provided pursuant to Item 1100(c) of
Regulation AB.
(2)
That, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(3)
To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b)           The undersigned
registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the registrant's annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is
incorporated by reference in this registration statement shall be deemed to be
a new registration statement relating to the securities offered herein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c)           Insofar as
indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act, and is,
therefore, unenforceable.  In the event
that a claim for indemnification against such liabilities (other than the
payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of New York, State of
New York on June 21, 2007.
THE BLACKSTONE GROUP L.P.
By: Blackstone
  Group Management L.L.C, its general partner
By:
/s/
Michael
  A. Puglisi
Name: Michael A. Puglisi
Title: Chief Financial Officer
POWER OF ATTORNEY
KNOW ALL MEN
BY THESE PRESENTS,
that the undersigned directors and officers of
the general partner of Registrant, which is filing a Registration Statement on
Form S-8 with the Securities and Exchange Commission, Washington, D.C. 20549
under the provisions of the Securities Act of 1933 hereby constitute and
appoint Stephen A. Schwarzman, Hamilton E. James, Michael A. Puglisi and Robert
L. Friedman, and each of them, the individual's true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for the person and in his or her name, place and stead, in any
and all capacities, to sign such registration statement and any or all
amendments, including post-effective amendments to the registration statement,
and all other documents in connection therewith to be filed with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and
each of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises, as fully to
all intents and purposes as he might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact as agents or any of them, or
their substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed below by the following
persons in the capacities indicated on the 21
st
day of June, 2007.
Signature
Title
/s/
Stephen
  A. Schwarzman
Chairman
  and Chief Executive Officer and Director
Stephen A. Schwarzman
(principal
  executive officer)
/s/
Peter G.
  Peterson
Director
Peter G. Peterson
/s/
Hamilton
  E. James
Director
Hamilton E. James
/s/ J.
Tomilson Hill
Director
J. Tomilson Hill
/s/
Michael
  A. Puglisi
Chief Financial
  Officer
Michael A. Puglisi
/s/
Dennis J.
  Walsh
Principal
  Accounting Officer
Dennis J. Walsh