Blackstone Bolsters Aerospace and Defense Expertise

  Blackstone Bolsters Aerospace and Defense Expertise

Business Wire

NEW YORK -- May 09, 2013

Blackstone (NYSE:BX) today announced that Jim Albaugh has been appointed as a
Senior Advisor. Mr. Albaugh will focus primarily on the firm’s private equity
activities in the Aerospace and Defense sector, while also advising other
businesses and clients across Blackstone’s diverse platforms. Mr. Albaugh was
most recently Chief Executive Officer and President of Boeing Commercial
Airplanes at The Boeing Company.

Joe Baratta, Global Head of Private Equity at Blackstone, said, “We are
delighted that Jim has agreed to join us as a Senior Advisor. Jim’s addition
to our team strengthens our expertise in the Aerospace and Defense sector and
will help us pursue attractive opportunities on behalf of our limited

Jim Albaugh said, “I am excited about being a part of the Blackstone team as
they look to pursue new transactions in the Aerospace and Defense sector.
Blackstone’s global investing platform presents an excellent opportunity for
value creation in the Aerospace and Defense sector.”

Mr. Albaugh’s prior positions at Boeing include President and CEO of Boeing
Defense, Space & Security; Senior Vice President of Boeing and President of
Space and Communications Group; President, Boeing Space Transportation; and
President of Rocketdyne Propulsion and Power. He has also served as a director
of TRW Automotive Holdings Corp. since 2006. He holds Bachelor’s degrees in
Mathematics and Physics from Willamette University and a Master’s degree in
Civil Engineering from Columbia University.

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-focused 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
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Christine Anderson, 212-583-5182
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