Blackstone (BX) 8-K Other Events

Exhibit 99.4

ITEM 8A. UNAUDITED SUPPLEMENTAL PRESENTATION OF STATEMENTS OF FINANCIAL CONDITION

THE BLACKSTONE GROUP L.P.

Unaudited Condensed Consolidated Statements of Financial Condition

(Dollars in Thousands)

	December 31, 2008
	Consolidated Operating Partnerships			Consolidated Blackstone Funds (a)		Reclasses and Eliminations			Consolidated
Assets
Cash and Cash Equivalents	$	503,737		$	—	$	—		$	503,737
Cash Held by Blackstone Funds and Other		57,536			849,788		—			907,324
Investments		1,650,071			1,385,132		(204,261	)		2,830,942
Accounts Receivable		309,201			2,866		—			312,067
Due from Brokers		—			48,506		—			48,506
Investment Subscriptions Paid in Advance		6,697			—		(4,781	)		1,916
Due from Affiliates		1,057,362			216		(196,144	)		861,434
Intangible Assets, Net		1,077,526			—		—			1,077,526
Goodwill		1,703,602			—		—			1,703,602
Other Assets		169,333			222		—			169,555
Deferred Tax Assets		845,578			—		—			845,578
Total Assets	$	7,380,643		$	2,286,730	$	(405,186	)	$	9,262,187
Liabilities and Partners’ Capital
Loans Payable	$	387,000		$	—	$	—		$	387,000
Amounts Due to Non-Controlling Interest Holders		105,942			1,009,780		(12,299	)		1,103,423
Securities Sold, Not Yet Purchased		—			894		—			894
Due to Affiliates		1,064,980			362,526		(141,929	)		1,285,577
Accrued Compensation and Benefits		410,593			2,866		—			413,459
Accounts Payable, Accrued Expenses and Other Liabilities		176,418			112,699		(108,858	)		180,259
Total Liabilities		2,144,933			1,488,765		(263,086	)		3,370,612
Redeemable Non-Controlling Interests in Consolidated Entities		—			—		362,462			362,462
Partners’ Capital
Partners’ Capital		3,509,448			504,562		(504,562	)		3,509,448
Accumulated Other Comprehensive Income		(291	)		—		—			(291	)
Non-Controlling Interests in Consolidated Entities		(95,206	)		293,403		—			198,197
Non-Controlling Interests in Blackstone Holdings		1,821,759			—		—			1,821,759
Total Partners’ Capital		5,235,710			797,965		(504,562	)		5,529,113
Total Liabilities and Partners’ Capital	$	7,380,643		$	2,286,730	$	(405,186	)	$	9,262,187

1

THE BLACKSTONE GROUP L.P.

Unaudited Condensed Consolidated Statements of Financial Condition

(Dollars in Thousands)

	December 31, 2007
	Consolidated Operating Partnerships		Consolidated Blackstone Funds (a)		Reclasses and Eliminations			Consolidated
Assets
Cash and Cash Equivalents	$	868,629	$	—	$	—		$	868,629
Cash Held by Blackstone Funds and Other		102,638		61,058		—			163,696
Investments		4,012,408		3,509,683		(376,935	)		7,145,156
Accounts Receivable		206,403		6,743		(60	)		213,086
Due from Brokers		—		812,250		—			812,250
Investment Subscriptions Paid in Advance		3,092		34,549		(943	)		36,698
Due from Affiliates		771,687		84,167		—			855,854
Intangible Assets, Net		604,681		—		—			604,681
Goodwill		1,597,474		—		—			1,597,474
Other Assets		97,891		1,475		—			99,366
Deferred Tax Assets		778,355		—		—			778,355
Total Assets	$	9,043,258	$	4,509,925	$	(377,938	)	$	13,175,245
Liabilities and Partners’ Capital
Loans Payable	$	130,389	$	—	$	—		$	130,389
Amounts Due to Non-Controlling Interest Holders		153,844		117,000		(943	)		269,901
Securities Sold, Not Yet Purchased		—		1,196,858		—			1,196,858
Due to Affiliates		831,364		245		—			831,609
Accrued Compensation and Benefits		188,997		—		—			188,997
Accounts Payable, Accrued Expenses and Other Liabilities		261,063		12,143		—			273,206
Total Liabilities		1,565,657		1,326,246		(943	)		2,890,960
Redeemable Non-Controlling Interests in Consolidated Entities		—		1,694,821		743,445			2,438,266
Partners’ Capital
Partners’ Capital		4,226,500		1,120,440		(1,120,440	)		4,226,500
Accumulated Other Comprehensive Income		345		—		—			345
Non-Controlling Interests in Consolidated Entities		147,468		368,418		—			515,886
Non-Controlling Interests in Blackstone Holdings		3,103,288		—		—			3,103,288
Total Partners’ Capital		7,477,601		1,488,858		(1,120,440	)		7,846,019
Total Liabilities and Partners’ Capital	$	9,043,258	$	4,509,925	$	(377,938	)	$	13,175,245

(a) The consolidated Blackstone Funds consisted of the following:

BDD Affiliate Fund II LLC

2

BDD Affiliates Fund LLC

Blackstone Corporate Opportunities Master Fund L.P.

Blackstone Distressed Securities Fund L.P.

Blackstone Employee Fund L.P.

Blackstone Kailix Affiliates Fund II LLC

Blackstone Kailix Affiliates Fund LLC

Blackstone Kailix Fund L.P.

Blackstone Market Opportunities Fund L.P.

Blackstone Strategic Alliance Fund L.P.

Blackstone Strategic Equity Fund L.P.

Blackstone Value Recovery Fund L.P.

GSO Legacy Associates 2 LLC

GSO Legacy Associates LLC

The Asia Opportunities Fund L.P.

Corporate private equity side-by-side investment vehicles

Real estate side-by-side investment vehicles

Mezzanine fund side-by-side investment vehicles

3