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LONDON--([ BUSINESS WIRE ])--Blackstone (NYSE: BX) announced today a corporate sponsorship of The New Entrepreneurs Foundation aNEFa in the United Kingdom.

NEF aims to create a new generation of outstanding entrepreneurs who will play a vital part in the UKas future growth and prosperity, and create new market-leading businesses.

Each year, 30 of the UKas most entrepreneurially minded young people are selected to enroll in a 12-month long programme. The programme has four components: a paid work placement, an intensive 10-month learning and development programme, monthly speaker and networking events, and an Executive Coach.

Gerry Murphy, Senior Managing Director and Chairman of The Blackstone Group International Partners LLP, said: aWe are delighted to join such a worthwhile initiative in the UK at a time when vibrant young companies are so important for creating lasting growth and real jobs. Blackstone has a long history of supporting young entrepreneurs in the US through The Blackstone Charitable Foundation, and working with the NEF will allow us to support dynamic young people and businesses here in the UK too.

Neeta Patel, CEO of The New Entrepreneurs Foundation, said: aWe really welcome the support from Blackstone for our young entrepreneurs programme. As a charity ourselves, we simply couldnat do the work we do to develop the next generation of entrepreneurial talent without the generosity and financial support from our sponsors. The impact this programme has on our candidates is huge a" it has the potential to turn their aspirations into reality and influence their entire work lives.

About Blackstone:

Blackstone is one of the worldas 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 mutual funds. The Blackstone Group 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.

About New Entrepreneurs Foundation:

The New Entrepreneurs Foundation equips young, aspiring entrepreneurs with the hands-on experience, skills and network to build scalable businesses.

The New Entrepreneurs Foundation (NEF) has been set up by a group of successful business people who are convinced that if enterprise and business are going to flourish in this country, it needs to develop and build new knowledge-based industries across a range of sectors. For more information, please visit: [ www.newentrepreneursfoundation.co.uk/ ]