The Blackstone Group L.P., together with its subsidiaries, provides alternative asset management and financial advisory services worldwide. The company operates in four segments: Corporate Private Equity, Real Estate, Marketable Alternative Asset Management, and Financial Advisory. The Corporate Private Equity segment involves in private equity investing through five general private equity funds and one specialized fund focusing on communications-related investments. This segment engages in various transactions comprising leveraged buyout acquisitions of companies, transactions involving start-up businesses in established industries, turnarounds, minority investments, corporate partnerships, distressed debt, structured securities, and industry consolidations. The Real Estate segment manages six general real estate funds and two internationally focused real estate funds. This segment invests in lodging, urban office buildings, residential properties, distribution, and warehousing centers, as well as a range of real estate operating companies. The Marketable Alternative Asset Management segment engages in the management of funds of hedge funds, mezzanine funds and senior debt vehicles, proprietary hedge funds, and publicly-traded closed-end mutual funds. The Financial Advisory segment offers corporate, and mergers and acquisitions advisory services; restructuring and reorganization advisory services; and fund placement services for alternative investment funds. Blackstone Group Management L.L.C. operates as the general partner of the company. The Blackstone Group L.P. was founded in 1985 and is headquartered in New York, New York with additional offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco, London, Paris, Tokyo, Mumbai, and Hong Kong.