Inaki Echave to Join Blackstone to Focus on Spain and Portugal

  Inaki Echave to Join Blackstone to Focus on Spain and Portugal

Business Wire

LONDON & MADRID -- February 12, 2013

Blackstone (NYSE:BX) today announced that Inaki Echave will join its private
equity group as a Managing Director, with primary responsibility for Spain and
Portugal. Mr. Echave was most recently a partner with Magnum Capital, the
largest independent buy-out fund on the Iberian Peninsula. He will work
alongside Claudio Boada, Blackstone’s Chairman for Iberia.

Lionel Assant, a Senior Managing Director at Blackstone and head of its
European private equity business, said, “We are delighted that someone of
Inaki’s talent and experience is coming to Blackstone. There is a great need
in the region to deploy our long-term patient capital to grow companies and
create jobs and value.”

Mr. Echave added, “I am very pleased to be joining Blackstone, the world’s
largest private equity firm. It has a global network, and unparalleled
experience and expertise improving the companies it invests in. I am looking
forward to being part of the investing team.”

Joe Baratta, Blackstone’s Global Head of its Private Equity business, said,
“Blackstone sees great opportunity in Spain. We have faith that Spain’s
leaders are taking actions to put the economy on sounder footing, and we
believe in the long-term potential of that economy. Inaki is a terrific
investor who shares our core investing values: partnering with good companies
and their management to make them better.”

In 2010, Blackstone bought Mivisa, a Spanish packaging company. Since then it
has invested over €35m in the business, grown sales by over 11% and employment
by 5%. Blackstone has $51 billion in private equity assets under management
globally as of the end of 2012 and as of the same date has $16 billion to
deploy globally in future private equity investments. It invested or committed
$5 billion in private equity last year.

Before joining Magnum in 2006, Mr. Echave worked for 3i Group, where he served
as a Director of the Pan-European Buyout team based in London and a Director
of the Spanish/Portuguese team, based in Madrid. Before 3i, he worked for JP
Morgan Partners (now CCMP Capital Advisors) in Madrid and London, re-launching
their activities in Spain. He started his career as a strategic consultant at
Bain & Company in a variety of sectors and companies in Spain and the United
Kingdom.

Mr. Echave has an MBA from INSEAD in France and holds a double degree in Law
and in Business from ICADE University in Madrid and Tübingener Universität in
Germany.

About Blackstone

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 private equity funds, real estate funds, hedge fund solutions,
credit-oriented funds and closed-end funds. Blackstone also provides various
financial advisory services, including financial and strategic advisory,
restructuring and reorganization advisory and fund placement services. Further
information is available at www.blackstone.com. Follow us on Twitter
@Blackstone.

Contact:

Dedalo Comunicación for Blackstone
Andy Hazell, +34 91 131 9570
Madrid
ahh@dedalocomunicacion.com
or
RLM Finsbury for Blackstone
Andrew Dowler, +44 20 7251 3801
London
andrew.dowler@finsbury.com