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Blackstone’s James Cuts Stake in Company With Third Sale

Blackstone Group LP President Tony James is reducing his stake in the private-equity firm he helped build into the world’s largest manager of alternative assets over the past 11 years.

James sold 3.25 million shares of New York-based Blackstone between Oct. 23 and Oct. 25 at prices ranging from $26.71 to $27.85, according to a filing with the U.S. Securities and Exchange Commission last week. James has sold at least 8.25 million shares this year in three transactions, about a fifth of the equity he held in Blackstone at the beginning of the year, according to regulatory filings.