Market Overview

Blackstone Completes Previously Announced Acquisition of PSAV

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Blackstone (NYSE:BX) today announced that private equity and real estate
funds managed by the firm have completed the previously announced
acquisition of PSAV, a global leader in event experiences. As part of
the completed transaction, affiliates of Goldman Sachs (NYSE:GS) will be
reinvesting alongside Blackstone in the transaction to continue to
participate in the ongoing growth of PSAV.

PSAV delivers on its purpose of connecting and inspiring people by
creating impactful event experiences. Through its deep expertise in
creative, production, advanced technology and staging services, PSAV is
an invaluable partner to meeting and event planners. It is the trusted
provider of choice at leading venues across the globe.

In June, the companies announced a definitive agreement for Blackstone
to acquire PSAV from affiliates of Goldman Sachs and Olympus Partners.
Terms of the transaction were not disclosed.

About Blackstone

Blackstone is one of the world's leading investment firms. We seek to
create positive economic impact and long-term value for our investors,
the companies we invest in, and the communities in which we work. We do
this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with
approximately $440 billion in assets under management, include
investment vehicles focused on private equity, real estate, public debt
and equity, non-investment grade credit, real assets and secondary
funds, all on a global basis. Further information is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.

About PSAV

PSAV is a global leader in event experiences, providing creative,
production, advanced technology and staging services to help meeting
planners deliver more dynamic and impactful experiences at their
meetings, trade shows and special events. The team consists of more than
9,000 professionals across 1,500 on-site venue locations and 49 branch
offices within the United States, Canada, Mexico, Europe, the Caribbean,
and the Middle East. It is the trusted partner and exclusive on-site
provider of choice at leading venues worldwide. PSAV was recently named
to the Forbes 2018 America's Best Employer list. The company is
headquartered in Schiller Park, Ill. www.psav.com.

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