New York, April 1, 2008: The Blackstone Group L.P. (NYSE: BX) announced today the closing of Blackstone Real Estate Partners VI (BREP VI) with capital commitments totaling $10.9 billion, creating the largest real estate opportunity fund ever raised. The firm has raised a total of nine real estate funds since inception, both funds for global investing and funds with a specific focus on Western Europe, with total capital commitments of $25.7 billion Blackstone’s Real Estate group numbers more then 60 investment and asset management professionals with broad experience across most real estate categories, including hotels, office, residential, retail, and other commercial properties. In the past several years Blackstone has completed a number of major transactions including Equity Office Properties, Hilton Hotels, CarrAmerica, Wyndham Hotels, Trizec Properties and Southern Cross / NHP. The group has completed more then 225 separate investments in North America and Europe with a total transaction value of approximately $132 billion since 1992. Most recently the group opened offices in Tokyo, Mumbai and Hong Kong to expand Blackstone’s real estate business in Asia.