Blackstone Charitable Foundation. UC Irvine May 29, 2014

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1 Blackstone Charitable Foundation UC Irvine May 29, 2014

leading franchises across all major asset classes Fastest growing manager in the fastest growing sector of asset management World s

2 Blackstone is both a leader and a pioneer in asset management, with $272 billion in AUM Private Equity Real Estate Hedge Fund Solutions Credit Financial Advisory $66 billion AUM $81 billion AUM $58 billion AUM $66 billion AUM Fully diversified manager with leading franchises across all major asset classes Fastest growing manager in the fastest growing sector of asset management World s most profitable publicly listed asset manager One of the highest-rated financial services firms, with A+ rating from both S&P and Fitch Blackstone 1

3 The programmatic focus of the Foundation is to strengthen entrepreneurial ecosystems The Blackstone Charitable Foundation, founded in 2007 at the Firm s IPO, does real programmatic work unlike most corporate philanthropies In response to the financial crisis, the Foundation announced its Entrepreneurship Initiative in April 2010 As part of this Initiative, the Foundation identifies regions which have the potential to be a hub of innovation and entrepreneurship, and then work to tailor a program specific to that region The Foundation works with leaders in the government, academia, and the business community to build these programs By connecting these regional programs to build a national network, the Foundation is strengthening the entrepreneurial ecosystem on a larger scale Blackstone 2

The Foundation has developed four program funding areas for the Entrepreneurship Initiative Blackstone LaunchPad Blackstone Accelerates Growth Blackstone Entrepreneurs Network Blackstone

take companies and start-ups to the next level Program Focus: Strengthening regional ecosystems by building networks of master entrepreneurs/dealmakers Program Focus: Allowing organizations to pilot,

4 The Foundation has developed four program funding areas for the Entrepreneurship Initiative Blackstone LaunchPad Blackstone Accelerates Growth Blackstone Entrepreneurs Network Blackstone Organizational Grants Program Focus: Linking multiple universities in select regions to train the next generation of entrepreneurs Program Focus : Developing Innovation Hubs in a rural geography to take companies and start-ups to the next level Program Focus: Strengthening regional ecosystems by building networks of master entrepreneurs/dealmakers Program Focus: Allowing organizations to pilot, expand, or replicate innovative programs in the entrepreneurship space Highlights: 15 universities with over 350,000 students have access to program Potential to create or support 4,300 businesses and over 11,000 jobs Highlights: 4 hubs in Maine established with plans for more in companies and 80 mentors/ EIRs engaged Highlights: $48.8 million in capital raised and 225 companies reviewed in 2013 Replicated program to Colorado in April 2014 Highlights: 23 organizations funded globally Organizations identified through a public RFP Over 500 proposals received last year Blackstone 3

Deliberate strategy to choose where the Foundation should direct its funding and resources Strong Partners Identifying strong on-the-ground partners to manage and sustain the program beyond our 3

5 Deliberate strategy to choose where the Foundation should direct its funding and resources Strong Partners Identifying strong on-the-ground partners to manage and sustain the program beyond our 3 year investment period Presence by Blackstone Locating programs in regions where Blackstone has existing or potential investors (LPs), portfolio companies, or offices Fractured Ecosystem Targeting growing entrepreneurial ecosystems which can benefit from our investment Branding Opportunities Identifying opportunities to build or further the Blackstone brand in a region of interest Relationships Building and strengthening relationships with key decision and policy makers Blackstone 4

6 * Programs in Brazil and the Middle East/ North Africa added in 2014 LaunchPad Entrepreneurs Network Accelerates Growth Organizational Grants $14 million to replicate Blackstone LaunchPad to 15 universities and colleges across the nation $7.63 million to pilot and replicate a program that creates a network of Master Entrepreneurs to support high growth companies $3 million to pilot program to create Innovation Hubs of services for entrepreneurs in Maine $3.4 million to fund innovative entrepreneurial organizations across the country Blackstone 5

7 Blackstone Entrepreneurs Network Strengthening ecosystems by building a network of entrepreneurs who mentor companies Regions: North Carolina and Colorado Timing: 3-year commitments Funding: $7.63 million investment Program: Forms dense network of entrepreneurial support by recruiting veteran master entrepreneurs who intensively and collaboratively support and mentor the next high growth companies in the state Program Goals 17,200 Jobs supported or created over the next eight years 150 Companies supported or created over the next eight years 15 Master or serial entrepreneurs identified and mentoring companies Blackstone 6

Blackstone Accelerates Growth Building innovation hubs in a rural state to take existing companies and start-ups to the next level Region: Maine Timing: 3 year commitment Funding: $3 million

8 Blackstone Accelerates Growth Building innovation hubs in a rural state to take existing companies and start-ups to the next level Region: Maine Timing: 3 year commitment Funding: $3 million investment Program: Creation of a rural entrepreneurship model establishing regional hubs of innovation that bring together strong programs in support of promising growth businesses throughout the state Program Goals 10,000 Jobs supported or created over the next eight years 250 Companies supported or created over the next eight years $664 million New revenue generated by companies within the program over the next eight years Blackstone 7

Blackstone Organizational Grants Creating

entrepreneurship organizations and programs

Africa/ Middle East, Tennessee, Texas, and

year grants Funding: $3.4 million currently.

organizations pilot, expand, or replicate

year period Goals: To have an international

9 Blackstone Organizational Grants Creating an international network of innovative entrepreneurship organizations and programs Regions: Arizona, Brazil, California, Colorado, Georgia, Illinois, Louisiana, Massachusetts, Missouri, New York, North Africa/ Middle East, Tennessee, Texas, and Washington State Select Program Organizations Announcement Date: Grants awarded in February 2013 and 2014 Timing: 1 year grants Funding: $3.4 million currently. Expect a total of $6 million when subsequent funding rounds are awarded Program: Supporting innovative organizations pilot, expand, or replicate their entrepreneurial programming over a 1 year period Goals: To have an international consortium of Blackstone-supported organizations sharing best practices and networks Blackstone 8

Blackstone LaunchPad Creating a national network of multiple higher education institutions, student entrepreneurs, and venture coaches Regions: Michigan, Ohio,

Miami that utilizes venture coaches, consultants, and student fellows to work with students and alumni on their ideas to help turn them into viable businesses Program

10 Blackstone LaunchPad Creating a national network of multiple higher education institutions, student entrepreneurs, and venture coaches Regions: Michigan, Ohio, Pennsylvania, Florida, Montana, and California Timing: All 3-year commitments Funding: $14 million total Program: Replicating a program developed at the University of Miami that utilizes venture coaches, consultants, and student fellows to work with students and alumni on their ideas to help turn them into viable businesses Program Goals 350,000 Students have access to the Program 4,000 Companies supported or created over the next five years 11,000 Jobs supported or created over the next five years Blackstone 9

11 Blackstone LaunchPad Creating a national network of multiple higher education institutions, student entrepreneurs, and venture coaches Blackstone 10

5 million grant Partner Institutions Steve Schwarzman, Mayor Eric Garcetti, Congressman Xavier Becerra and

12 Blackstone LaunchPad in California A regional network of higher education institutions, student entrepreneurs, and venture coaches Announced in February 2014 with a $3.5 million grant Partner Institutions Steve Schwarzman, Mayor Eric Garcetti, Congressman Xavier Becerra and the Provosts from all three institutions spoke With the addition of the 3 California schools, an additional 100,000 students have access to the network Blackstone 11

Unemployment Rate (%) Rank State. Unemployment

Unemployment Rate (%) Rank State. Unemployment States Ranked by February 2018 Unemployment Rate Seasonally Adjusted Unemployment Unemployment Unemployment 1 Hawaii 2.1 19 Alabama 3.7 33 Ohio 4.5 2 New Hampshire 2.6 19 Missouri 3.7 33 Rhode Island 4.5