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Wednesday, January 7, 2015

BRIEF-Blackstone, TSSP to purchase Acenden Mortgage from Lehman Brothers' administrators, (NYSE: BX)

Blackstone Group LP : * Funds managed by Blackstone Tactical Opportunities and TPG Special Situations Partners to acquire Acenden Mortgage from administrators of Lehman Brothers* Transaction is expected to close in early 2015, subject to customary regulatory and antitrust approvals* Acenden has more than 64,000 loans under management, with a value of about 5.4 billion stg (at December 2013) Further company coverage:

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.93% or $-0.65/share to $32.98. In the past year, the shares have traded as low as $26.56 and as high as $36.08. On average, 4772190 shares of BX exchange hands on a given day and today's volume is recorded at 3354175.