<?xml version="1.0" encoding="us-ascii"?>
<!--XBRL document created with Crossfire by Rivet Software version 5.1.148.0 http://www.rivetsoftware.com-->
<!--Based on XBRL 2.1-->
<!--Created on: 5/5/2012 1:03:07 PM-->
<!--Modified on: 5/5/2012 1:03:07 PM-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#StatementCondensedConsolidatedStatementsOfFinancialConditionAlternate" roleURI="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfFinancialConditionAlternate" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#StatementCondensedConsolidatedStatementsOfOperationsAlternate" roleURI="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfOperationsAlternate" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#StatementCondensedConsolidatedStatementsOfComprehensiveIncome" roleURI="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfComprehensiveIncome" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#StatementCondensedConsolidatedStatementsOfCashFlows" roleURI="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfCashFlows" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureAcquisitionsGoodwillAndIntangibleAssetsSummaryOfEstimatedFairValuesOfAssetsAcquiredAndLiabilitiesDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureAcquisitionsGoodwillAndIntangibleAssetsSummaryOfEstimatedFairValuesOfAssetsAcquiredAndLiabilitiesDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureInvestmentsReconciliationOfRealizedAndNetChangeInUnrealizedGainsLossesToOtherIncomeLossNetGainsLossesFromFundInvestmentActivitiesInCondensedConsolidatedStatementsOfOperationsDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsReconciliationOfRealizedAndNetChangeInUnrealizedGainsLossesToOtherIncomeLossNetGainsLossesFromFundInvestmentActivitiesInCondensedConsolidatedStatementsOfOperationsDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByBlackstoneSTreasuryCashManagementStrategiesDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByBlackstoneSTreasuryCashManagementStrategiesDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOtherInvestementsDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOtherInvestementsDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureFairValueMeasurementsOfFinancialInstrumentsFinancialAssetsAndLiabilitiesAtFairValueDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureFairValueMeasurementsOfFinancialInstrumentsFinancialAssetsAndLiabilitiesAtFairValueDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureBorrowingsPrincipalPaymentsForBorrowingsDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureBorrowingsPrincipalPaymentsForBorrowingsDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureEquityBasedCompensationUnvestedUnitsAfterExpectedForfeituresDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureEquityBasedCompensationUnvestedUnitsAfterExpectedForfeituresDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureRelatedPartyTransactionsDueFromAffiliatesAndDueToAffiliatesDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureRelatedPartyTransactionsDueFromAffiliatesAndDueToAffiliatesDetails" />
  <roleRef xlink:type="simple" xlink:href="bx-20120331.xsd#DisclosureSegmentReportingFinancialDataForFiveSegmentsDetails" roleURI="http://www.blackstone.com/2011-06-30/role/DisclosureSegmentReportingFinancialDataForFiveSegmentsDetails" />
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfFinancialConditionAlternate" xlink:type="extended" xlink:title="00101 - Statement - Condensed Consolidated Statements Of Financial Condition (Alternate)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_634718197828430315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_CashHeldByFundsAndOther" xlink:label="bx_CashHeldByFundsAndOther_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="bx_CashHeldByFundsAndOther_634718197828430315" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Investments" xlink:label="us-gaap_Investments_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Investments_634718197828430315" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="us-gaap_AccountsReceivableNet_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AccountsReceivableNet_634718197828430315" order="4" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuritiesForReverseRepurchaseAgreements" xlink:label="us-gaap_SecuritiesForReverseRepurchaseAgreements_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_SecuritiesForReverseRepurchaseAgreements_634718197828430315" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="us-gaap_DueFromAffiliates_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_DueFromAffiliates_634718197828430315" order="6" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNet_634718197828430315" order="7" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Goodwill_634718197828430315" order="8" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_OtherAssets_634718197828430315" order="9" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="us-gaap_DeferredTaxAssetsNet_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_DeferredTaxAssetsNet_634718197828430315" order="10" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalInvestmentsVie" xlink:label="bx_TotalInvestmentsVie_634718197828430315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="bx_TotalInvestmentsVie_634718197828430315" order="11" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_634718139055017815" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_634718139055017815" xlink:to="us-gaap_Liabilities_634718197828442815" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansPayable" xlink:label="us-gaap_LoansPayable_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_LoansPayable_634718197828442815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_634718197828442815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_634718197828442815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased" xlink:label="us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased_634718197828442815" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_634718197828442815" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities_634718197828442815" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_634718197828442815" order="6" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestEquityFairValue" xlink:label="us-gaap_RedeemableNoncontrollingInterestEquityFairValue_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_634718139055017815" xlink:to="us-gaap_RedeemableNoncontrollingInterestEquityFairValue_634718197828442815" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PartnersCapital" xlink:label="us-gaap_PartnersCapital_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_634718139055017815" xlink:to="us-gaap_PartnersCapital_634718197828442815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LimitedPartnersCapitalAccount" xlink:label="us-gaap_LimitedPartnersCapitalAccount_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PartnersCapital_634718197828442815" xlink:to="us-gaap_LimitedPartnersCapitalAccount_634718197828442815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PartnersCapital_634718197828442815" xlink:to="us-gaap_RetainedEarningsAppropriated_634718197828442815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_634718197828442815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PartnersCapital_634718197828442815" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_634718197828442815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NonControllingInterestsInConsolidatedEntities" xlink:label="bx_NonControllingInterestsInConsolidatedEntities_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PartnersCapital_634718197828442815" xlink:to="bx_NonControllingInterestsInConsolidatedEntities_634718197828455315" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NonControllingInterestInPartnerships" xlink:label="bx_NonControllingInterestInPartnerships_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PartnersCapital_634718197828442815" xlink:to="bx_NonControllingInterestInPartnerships_634718197828455315" order="5" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfOperationsAlternate" xlink:type="extended" xlink:title="00201 - Statement - Condensed Consolidated Statements Of Operations (Alternate)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterestInNetIncomeLossLimitedPartnerships" xlink:label="us-gaap_MinorityInterestInNetIncomeLossLimitedPartnerships_634718150482070315" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_MinorityInterestInNetIncomeLossLimitedPartnerships_634718150482070315" xlink:to="us-gaap_ProfitLoss_634718197828455315" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_634718197828455315" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_634718197828455315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_634718197828455315" xlink:to="us-gaap_Revenues_634718197828455315" order="1" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentAdvisoryFees" xlink:label="us-gaap_InvestmentAdvisoryFees_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues_634718197828455315" xlink:to="us-gaap_InvestmentAdvisoryFees_634718197828455315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PerformanceFees" xlink:label="us-gaap_PerformanceFees_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues_634718197828455315" xlink:to="us-gaap_PerformanceFees_634718197828455315" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PerformanceFeesRealized" xlink:label="bx_PerformanceFeesRealized_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PerformanceFees_634718197828455315" xlink:to="bx_PerformanceFeesRealized_634718197828455315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PerformanceFeesUnrealized" xlink:label="bx_PerformanceFeesUnrealized_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_PerformanceFees_634718197828455315" xlink:to="bx_PerformanceFeesUnrealized_634718197828455315" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues_634718197828455315" xlink:to="us-gaap_GainLossOnInvestments_634718197828455315" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentIncomeLossRealized" xlink:label="bx_InvestmentIncomeLossRealized_634718197828455315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GainLossOnInvestments_634718197828455315" xlink:to="bx_InvestmentIncomeLossRealized_634718197828455315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentIncomeLossUnrealized" xlink:label="bx_InvestmentIncomeLossUnrealized_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GainLossOnInvestments_634718197828455315" xlink:to="bx_InvestmentIncomeLossUnrealized_634718197828467815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeInterestAndDividend" xlink:label="us-gaap_InvestmentIncomeInterestAndDividend_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues_634718197828455315" xlink:to="us-gaap_InvestmentIncomeInterestAndDividend_634718197828467815" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherIncome" xlink:label="us-gaap_OtherIncome_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues_634718197828455315" xlink:to="us-gaap_OtherIncome_634718197828467815" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_634718197828455315" xlink:to="us-gaap_CostsAndExpenses_634718197828467815" order="2" use="optional" weight="-1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_634718197828467815" xlink:to="us-gaap_LaborAndRelatedExpense_634718197828467815" order="1" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_CompensationPerformanceFeeCompensationRealized" xlink:label="bx_CompensationPerformanceFeeCompensationRealized_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LaborAndRelatedExpense_634718197828467815" xlink:to="bx_CompensationPerformanceFeeCompensationRealized_634718197828467815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_CompensationPerformanceFeeCompensationUnrealized" xlink:label="bx_CompensationPerformanceFeeCompensationUnrealized_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LaborAndRelatedExpense_634718197828467815" xlink:to="bx_CompensationPerformanceFeeCompensationUnrealized_634718197828467815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SalariesAndWages" xlink:label="us-gaap_SalariesAndWages_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LaborAndRelatedExpense_634718197828467815" xlink:to="us-gaap_SalariesAndWages_634718197828467815" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_634718197828467815" xlink:to="us-gaap_GeneralAndAdministrativeExpense_634718197828467815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_634718197828467815" xlink:to="us-gaap_InterestExpense_634718197828467815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_FundExpensesConsolidatedFunds" xlink:label="bx_FundExpensesConsolidatedFunds_634718197828467815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_634718197828467815" xlink:to="bx_FundExpensesConsolidatedFunds_634718197828467815" order="4" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="us-gaap_OtherCostAndExpenseOperating_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses_634718197828467815" xlink:to="us-gaap_OtherCostAndExpenseOperating_634718197828480315" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds" xlink:label="bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_634718197828455315" xlink:to="bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds_634718197828480315" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_634718197828455315" xlink:to="us-gaap_IncomeTaxExpenseBenefit_634718197828480315" order="2" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetIncomeLossAttributableToNonControllingInterestsInPartnerships" xlink:label="bx_NetIncomeLossAttributableToNonControllingInterestsInPartnerships_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_MinorityInterestInNetIncomeLossLimitedPartnerships_634718150482070315" xlink:to="bx_NetIncomeLossAttributableToNonControllingInterestsInPartnerships_634718197828480315" order="2" use="optional" weight="-1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfComprehensiveIncome" xlink:type="extended" xlink:title="00205 - Statement - Condensed Consolidated Statements Of Comprehensive Income">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_634718197828480315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_634718197828480315" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_634718197828480315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_634718197828480315" xlink:to="us-gaap_NetIncomeLoss_634718197828480315" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ComprehensiveIncomeAttributableToNonControllingInterestsInPartnerships" xlink:label="bx_ComprehensiveIncomeAttributableToNonControllingInterestsInPartnerships_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="bx_ComprehensiveIncomeAttributableToNonControllingInterestsInPartnerships_634718197828480315" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ComprehensiveIncomeAttributableToNonControllingInterestInConsolidatedEntities" xlink:label="bx_ComprehensiveIncomeAttributableToNonControllingInterestInConsolidatedEntities_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="bx_ComprehensiveIncomeAttributableToNonControllingInterestInConsolidatedEntities_634718197828480315" order="3" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ComprehensiveIncomeAttributableToRedeemableNonControllingInterestsInConsolidatedEntities" xlink:label="bx_ComprehensiveIncomeAttributableToRedeemableNonControllingInterestsInConsolidatedEntities_634718197828480315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="bx_ComprehensiveIncomeAttributableToRedeemableNonControllingInterestsInConsolidatedEntities_634718197828480315" order="4" use="optional" weight="-1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/StatementCondensedConsolidatedStatementsOfCashFlows" xlink:type="extended" xlink:title="00300 - Statement - Condensed Consolidated Statements Of Cash Flows">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_634229989498035949" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_634229989498035949" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_634718197828492815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_634229989498035949" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_CashRelinquishedWithContinuingLiquidationOfPartnership" xlink:label="bx_CashRelinquishedWithContinuingLiquidationOfPartnership_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_CashRelinquishedWithContinuingLiquidationOfPartnership_634718197828492815" order="1" use="optional" weight="-1" priority="1" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_SecuritiesSoldNotYetPurchased" xlink:label="bx_SecuritiesSoldNotYetPurchased_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_SecuritiesSoldNotYetPurchased_634718197828492815" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ProfitLoss_634718197828492815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_UnrealizedDepreciationAppreciationOnInvestmentsAllocableToNonControllingInterestsInConsolidatedEntitiesFundsRelated" xlink:label="bx_UnrealizedDepreciationAppreciationOnInvestmentsAllocableToNonControllingInterestsInConsolidatedEntitiesFundsRelated_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_UnrealizedDepreciationAppreciationOnInvestmentsAllocableToNonControllingInterestsInConsolidatedEntitiesFundsRelated_634718197828492815" order="4" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetRealizedGainsLossesOnInvestmentsFundsRelated" xlink:label="bx_NetRealizedGainsLossesOnInvestmentsFundsRelated_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_NetRealizedGainsLossesOnInvestmentsFundsRelated_634718197828492815" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ChangesInUnrealizedGainsLossesOnInvestmentsAllocableToParentAndFundsRelated" xlink:label="bx_ChangesInUnrealizedGainsLossesOnInvestmentsAllocableToParentAndFundsRelated_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_ChangesInUnrealizedGainsLossesOnInvestmentsAllocableToParentAndFundsRelated_634718197828492815" order="6" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge" xlink:label="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_634718197828492815" order="7" use="optional" weight="1" priority="4" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NonCashPerformanceFees" xlink:label="bx_NonCashPerformanceFees_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_NonCashPerformanceFees_634718197828492815" order="8" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NonCashPerformanceFeeCompensation" xlink:label="bx_NonCashPerformanceFeeCompensation_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_NonCashPerformanceFeeCompensation_634718197828492815" order="9" use="optional" weight="1" priority="4" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ShareBasedCompensation_634718197828492815" order="10" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_AmortizationOfIntangibleAssets_634718197828492815" order="11" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="us-gaap_OtherNoncashIncomeExpense_634718197828492815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_OtherNoncashIncomeExpense_634718197828492815" order="12" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_IncreaseDecreaseInCashHeldByFundsAndOther" xlink:label="bx_IncreaseDecreaseInCashHeldByFundsAndOther_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="bx_IncreaseDecreaseInCashHeldByFundsAndOther_634718197828505315" order="13" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_634718197828505315" order="14" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseDueFromAffiliates" xlink:label="us-gaap_IncreaseDecreaseDueFromAffiliates_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseDueFromAffiliates_634718197828505315" order="15" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_634718197828505315" order="16" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedSalaries" xlink:label="us-gaap_IncreaseDecreaseInAccruedSalaries_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInAccruedSalaries_634718197828505315" order="17" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_634718197828505315" order="18" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_634718197828505315" order="19" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:label="us-gaap_IncreaseDecreaseInDueToAffiliates_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInDueToAffiliates_634718197828505315" order="20" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:label="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_634718197828505315" order="21" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_634718197828505315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments_634718197828505315" order="22" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireInvestments" xlink:label="us-gaap_PaymentsToAcquireInvestments_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_PaymentsToAcquireInvestments_634718197828517815" order="23" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:label="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments_634718197828517815" order="24" use="optional" weight="1" priority="4" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherFinancialInstrumentsUsedInOperatingActivities" xlink:label="us-gaap_IncreaseDecreaseInOtherFinancialInstrumentsUsedInOperatingActivities_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_634718197828492815" xlink:to="us-gaap_IncreaseDecreaseInOtherFinancialInstrumentsUsedInOperatingActivities_634718197828517815" order="25" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_634229989498035949" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_634718197828517815" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_634718197828517815" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_634718197828517815" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_634718197828517815" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_634718197828517815" order="2" use="optional" weight="-1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="us-gaap_IncreaseDecreaseInRestrictedCash_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_634718197828517815" xlink:to="us-gaap_IncreaseDecreaseInRestrictedCash_634718197828517815" order="3" use="optional" weight="-1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_634229989498035949" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_634718197828517815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_PaymentsOfDividendsMinorityInterest_634718197828517815" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromMinorityShareholders" xlink:label="us-gaap_ProceedsFromMinorityShareholders_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_ProceedsFromMinorityShareholders_634718197828530315" order="2" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_MinorityInterestDecreaseFromRedemptions_634718197828530315" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetSettlementOfVestedCommonUnitsAndRepurchaseOfCommonAndPartnershipUnits" xlink:label="bx_NetSettlementOfVestedCommonUnitsAndRepurchaseOfCommonAndPartnershipUnits_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="bx_NetSettlementOfVestedCommonUnitsAndRepurchaseOfCommonAndPartnershipUnits_634718197828530315" order="4" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromLoans" xlink:label="us-gaap_ProceedsFromLoans_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_ProceedsFromLoans_634718197828530315" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_RepaymentsOfLongTermDebt_634718197828530315" order="6" use="optional" weight="-1" priority="1" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LimitedPartnersCapitalAccountDistributionAmount" xlink:label="us-gaap_LimitedPartnersCapitalAccountDistributionAmount_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="us-gaap_LimitedPartnersCapitalAccountDistributionAmount_634718197828530315" order="7" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ProceedsFromLoansPayable" xlink:label="bx_ProceedsFromLoansPayable_634718197828530315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="bx_ProceedsFromLoansPayable_634718197828530315" order="8" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_RepaymentOfLoansPayable" xlink:label="bx_RepaymentOfLoansPayable_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_634718197828517815" xlink:to="bx_RepaymentOfLoansPayable_634718197828542815" order="9" use="optional" weight="-1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureAcquisitionsGoodwillAndIntangibleAssetsSummaryOfEstimatedFairValuesOfAssetsAcquiredAndLiabilitiesDetails" xlink:type="extended" xlink:title="40302 - Disclosure - Acquisitions, Goodwill And Intangible Assets (Summary Of Estimated Fair Values Of Assets Acquired And Liabilities) (Details)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilities" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilities_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilities_634718197828542815" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsCashAndCashEquivalents" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsCashAndCashEquivalents_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsCashAndCashEquivalents_634718197828542815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets_634718197828542815" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivables" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivables_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivables_634718197828542815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_634718197828542815" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_BusinessAcquisitionPurchasePriceAllocationInvestmentsInCollateralizedLoanObligation" xlink:label="bx_BusinessAcquisitionPurchasePriceAllocationInvestmentsInCollateralizedLoanObligation_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired_634718197828542815" xlink:to="bx_BusinessAcquisitionPurchasePriceAllocationInvestmentsInCollateralizedLoanObligation_634718197828542815" order="5" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsDetails" xlink:type="extended" xlink:title="40403 - Disclosure - Investments (Schedule Of Realized And Net Change In Unrealized Gains (Losses) On Investments) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" xlink:label="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_RealizedGainsLossesHeldByConsolidatedFunds" xlink:label="bx_RealizedGainsLossesHeldByConsolidatedFunds_634718197828542815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" xlink:to="bx_RealizedGainsLossesHeldByConsolidatedFunds_634718197828542815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" xlink:label="bx_NetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" xlink:to="bx_NetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds_634718197828555315" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsReconciliationOfRealizedAndNetChangeInUnrealizedGainsLossesToOtherIncomeLossNetGainsLossesFromFundInvestmentActivitiesInCondensedConsolidatedStatementsOfOperationsDetails" xlink:type="extended" xlink:title="40404 - Disclosure - Investments (Reconciliation Of The Realized And Net Change In Unrealized Gains (Losses) To Other Income (Loss) - Net Gains (Losses) From Fund Investment Activities In The Condensed Consolidated Statements Of Operations) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds" xlink:label="bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds" xlink:label="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds" xlink:to="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds_634718197828555315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InterestAndDividendRevenueAttributableToConsolidatedFunds" xlink:label="bx_InterestAndDividendRevenueAttributableToConsolidatedFunds_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds" xlink:to="bx_InterestAndDividendRevenueAttributableToConsolidatedFunds_634718197828555315" order="2" use="optional" weight="1" priority="3" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByBlackstoneSTreasuryCashManagementStrategiesDetails" xlink:type="extended" xlink:title="40405 - Disclosure - Investments (Schedule Of Realized And Net Change In Unrealized Gains (Losses) On Investments Held By Blackstone's Treasury Cash Management Strategies) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" xlink:label="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_RealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" xlink:label="bx_RealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" xlink:to="bx_RealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies_634718197828555315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetChangesInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" xlink:label="bx_NetChangesInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies" xlink:to="bx_NetChangesInUnrealizedGainsLossesOnInvestmentsHeldByTreasuryCashManagementStrategies_634718197828555315" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureInvestmentsScheduleOfRealizedAndNetChangeInUnrealizedGainsLossesOtherInvestementsDetails" xlink:type="extended" xlink:title="40407 - Disclosure - Investments (Schedule Of Realized And Net Change In Unrealized Gains (Losses), Other Investements) (Details)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfOtherInvestments" xlink:label="us-gaap_GainLossOnSaleOfOtherInvestments" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_NetChangeInUnrealizedGainsLossesOnOtherInvestments" xlink:label="bx_NetChangeInUnrealizedGainsLossesOnOtherInvestments_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GainLossOnSaleOfOtherInvestments" xlink:to="bx_NetChangeInUnrealizedGainsLossesOnOtherInvestments_634718197828555315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_RealizedGainsLossesOnOtherInvestments" xlink:label="bx_RealizedGainsLossesOnOtherInvestments_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_GainLossOnSaleOfOtherInvestments" xlink:to="bx_RealizedGainsLossesOnOtherInvestments_634718197828555315" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureFairValueMeasurementsOfFinancialInstrumentsFinancialAssetsAndLiabilitiesAtFairValueDetails" xlink:type="extended" xlink:title="40801 - Disclosure - Fair Value Measurements Of Financial Instruments (Financial Assets And Liabilities At Fair Value) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalFinancialAssetsFairValue" xlink:label="bx_TotalFinancialAssetsFairValue" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentsConsolidatedFunds" xlink:label="bx_InvestmentsConsolidatedFunds_634718197828555315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="bx_InvestmentsConsolidatedFunds_634718197828555315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AssetsOfConsolidatedCloVehiclesOtherFairValueDisclosure" xlink:label="bx_AssetsOfConsolidatedCloVehiclesOtherFairValueDisclosure_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_AssetsOfConsolidatedCloVehiclesOtherFairValueDisclosure_634718197828567815" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_FreestandingDerivativesInterestRateContracts" xlink:label="bx_FreestandingDerivativesInterestRateContracts_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_FreestandingDerivativesInterestRateContracts_634718197828567815" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AssetsOfConsolidatedCloVehiclesCorporateBondsFairValueDisclosure" xlink:label="bx_AssetsOfConsolidatedCloVehiclesCorporateBondsFairValueDisclosure_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_AssetsOfConsolidatedCloVehiclesCorporateBondsFairValueDisclosure_634718197828567815" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AssetsOfConsolidatedCloVehiclesCorporateLoansFairValueDisclosure" xlink:label="bx_AssetsOfConsolidatedCloVehiclesCorporateLoansFairValueDisclosure_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_AssetsOfConsolidatedCloVehiclesCorporateLoansFairValueDisclosure_634718197828567815" order="4" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentFundsFairValue" xlink:label="bx_InvestmentFundsFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_InvestmentFundsFairValue_634718197828567815" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_EquitySecuritiesFairValue" xlink:label="bx_EquitySecuritiesFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_EquitySecuritiesFairValue_634718197828567815" order="6" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_DebtInstrumentsFairValue" xlink:label="bx_DebtInstrumentsFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_DebtInstrumentsFairValue_634718197828567815" order="7" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PartnershipAndLlcInterestsTotalFairValue" xlink:label="bx_PartnershipAndLlcInterestsTotalFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_PartnershipAndLlcInterestsTotalFairValue_634718197828567815" order="8" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AssetsOfConsolidatedCloVehiclesFreestandingDerivativesFairValueDisclosure" xlink:label="bx_AssetsOfConsolidatedCloVehiclesFreestandingDerivativesFairValueDisclosure_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_InvestmentsConsolidatedFunds_634718197828555315" xlink:to="bx_AssetsOfConsolidatedCloVehiclesFreestandingDerivativesFairValueDisclosure_634718197828567815" order="9" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentsInTreasuryCashManagementStrategies" xlink:label="bx_InvestmentsInTreasuryCashManagementStrategies_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="bx_InvestmentsInTreasuryCashManagementStrategies_634718197828567815" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsInHedgesAssetsAtFairValue" xlink:label="us-gaap_DerivativeInstrumentsInHedgesAssetsAtFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="us-gaap_DerivativeInstrumentsInHedgesAssetsAtFairValue_634718197828567815" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_MoneyMarketFundsFairValue" xlink:label="bx_MoneyMarketFundsFairValue_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="bx_MoneyMarketFundsFairValue_634718197828567815" order="4" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_634718197828567815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="us-gaap_DerivativeFairValueOfDerivativeAsset_634718197828567815" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_LoansAndReceivablesFairValue" xlink:label="bx_LoansAndReceivablesFairValue_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="bx_LoansAndReceivablesFairValue_634718197828580315" order="6" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherInvestments" xlink:label="us-gaap_OtherInvestments_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialAssetsFairValue" xlink:to="us-gaap_OtherInvestments_634718197828580315" order="7" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TotalFinancialLiabilitiesFairValue" xlink:label="bx_TotalFinancialLiabilitiesFairValue" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased" xlink:label="us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialLiabilitiesFairValue" xlink:to="us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased_634718197828580315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_FreestandingDerivativesLiabilitiesFairValue" xlink:label="bx_FreestandingDerivativesLiabilitiesFairValue_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialLiabilitiesFairValue" xlink:to="bx_FreestandingDerivativesLiabilitiesFairValue_634718197828580315" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_FreestandingDerivativesForeignCurrencyContracts" xlink:label="bx_FreestandingDerivativesForeignCurrencyContracts_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_TotalFinancialLiabilitiesFairValue" xlink:to="bx_FreestandingDerivativesForeignCurrencyContracts_634718197828580315" order="3" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureBorrowingsPrincipalPaymentsForBorrowingsDetails" xlink:type="extended" xlink:title="41104 - Disclosure - Borrowings (Principal Payments For Borrowings) (Details)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentOfPrincipleInYearThree" xlink:label="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentOfPrincipleInYearThree_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentOfPrincipleInYearThree_634718197828580315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipalAfterYearFive_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipalAfterYearFive_634718197828580315" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearFour" xlink:label="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearFour_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearFour_634718197828580315" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearTwo" xlink:label="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearTwo_634718197828580315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleInYearTwo_634718197828580315" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleWithinOneYear" xlink:label="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleWithinOneYear_634718197828592815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_FiveYearScheduleOfMaturitiesOfParentCompanyRepaymentsOfPrincipleWithinOneYear_634718197828592815" order="5" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureEquityBasedCompensationUnvestedUnitsAfterExpectedForfeituresDetails" xlink:type="extended" xlink:title="41403 - Disclosure - Equity-Based Compensation (Unvested Units, After Expected Forfeitures) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_UnitsExpectedToVestForTotalEquityBasedAwards" xlink:label="bx_UnitsExpectedToVestForTotalEquityBasedAwards" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_UnitsExpectedToVestDeferredRestrictedCommonUnitsAndOptions" xlink:label="bx_UnitsExpectedToVestDeferredRestrictedCommonUnitsAndOptions_634718197828592815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_UnitsExpectedToVestForTotalEquityBasedAwards" xlink:to="bx_UnitsExpectedToVestDeferredRestrictedCommonUnitsAndOptions_634718197828592815" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_UnitsExpectedToVestForPartnershipUnits" xlink:label="bx_UnitsExpectedToVestForPartnershipUnits_634718197828592815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_UnitsExpectedToVestForTotalEquityBasedAwards" xlink:to="bx_UnitsExpectedToVestForPartnershipUnits_634718197828592815" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureRelatedPartyTransactionsDueFromAffiliatesAndDueToAffiliatesDetails" xlink:type="extended" xlink:title="41502 - Disclosure - Related Party Transactions (Due From Affiliates And Due To Affiliates) (Details)">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="us-gaap_DueFromAffiliates" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AccrualForPotentialClawbackOfPreviouslyDistributedInterest" xlink:label="bx_AccrualForPotentialClawbackOfPreviouslyDistributedInterest_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="bx_AccrualForPotentialClawbackOfPreviouslyDistributedInterest_634718197828667815" order="1" use="optional" weight="1" priority="4" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PrimarilyInterestBearingAdvancesMadeOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployeesForInvestmentsInCompanyFunds" xlink:label="bx_PrimarilyInterestBearingAdvancesMadeOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployeesForInvestmentsInCompanyFunds_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="bx_PrimarilyInterestBearingAdvancesMadeOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployeesForInvestmentsInCompanyFunds_634718197828667815" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="us-gaap_DueFromRelatedParties_634718197828667815" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_InvestmentsRedeemedInNonConsolidatedFundsOfFunds" xlink:label="bx_InvestmentsRedeemedInNonConsolidatedFundsOfFunds_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="bx_InvestmentsRedeemedInNonConsolidatedFundsOfFunds_634718197828667815" order="4" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ManagementAndPerformanceFeesDueFromNonConsolidatedFundsOfFunds" xlink:label="bx_ManagementAndPerformanceFeesDueFromNonConsolidatedFundsOfFunds_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="bx_ManagementAndPerformanceFeesDueFromNonConsolidatedFundsOfFunds_634718197828667815" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PaymentsMadeOnBehalfOfNonConsolidatedEntities" xlink:label="bx_PaymentsMadeOnBehalfOfNonConsolidatedEntities_634718197828667815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="bx_PaymentsMadeOnBehalfOfNonConsolidatedEntities_634718197828667815" order="6" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdvancesToAffiliate" xlink:label="us-gaap_AdvancesToAffiliate_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueFromAffiliates" xlink:to="us-gaap_AdvancesToAffiliate_634718197828680315" order="7" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_DueToCertainNonControllingInterestHoldersInConnectionWithTaxReceivableAgreements" xlink:label="bx_DueToCertainNonControllingInterestHoldersInConnectionWithTaxReceivableAgreements_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_DueToCertainNonControllingInterestHoldersInConnectionWithTaxReceivableAgreements_634718197828680315" order="1" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_DistributionsReceivedOnBehalfOfNonConsolidatedEntities" xlink:label="bx_DistributionsReceivedOnBehalfOfNonConsolidatedEntities_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_DistributionsReceivedOnBehalfOfNonConsolidatedEntities_634718197828680315" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PaymentsMadeByNonConsolidatedEntities" xlink:label="bx_PaymentsMadeByNonConsolidatedEntities_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_PaymentsMadeByNonConsolidatedEntities_634718197828680315" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_DistributionsReceivedOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployees" xlink:label="bx_DistributionsReceivedOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployees_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_DistributionsReceivedOnBehalfOfCertainNonControllingInterestHoldersAndCompanyEmployees_634718197828680315" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_DueToNoteHoldersOfConsolidateCloVehicles" xlink:label="bx_DueToNoteHoldersOfConsolidateCloVehicles_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_DueToNoteHoldersOfConsolidateCloVehicles_634718197828680315" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AccrualForPotentialRepaymentOfPreviouslyReceivedPerformanceFees" xlink:label="bx_AccrualForPotentialRepaymentOfPreviouslyReceivedPerformanceFees_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_AccrualForPotentialRepaymentOfPreviouslyReceivedPerformanceFees_634718197828680315" order="6" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_PayableToAffiliatesForConsolidatedFundsInLiquidation" xlink:label="bx_PayableToAffiliatesForConsolidatedFundsInLiquidation_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="bx_PayableToAffiliatesForConsolidatedFundsInLiquidation_634718197828680315" order="7" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.blackstone.com/2011-06-30/role/DisclosureSegmentReportingFinancialDataForFiveSegmentsDetails" xlink:type="extended" xlink:title="41701 - Disclosure - Segment Reporting (Financial Data For Five Segments) (Details)">
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_EconomicNetIncome" xlink:label="bx_EconomicNetIncome" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_EconomicNetIncome" xlink:to="us-gaap_Revenues_634718197828680315" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses_634718197828680315" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="bx_EconomicNetIncome" xlink:to="us-gaap_CostsAndExpenses_634718197828680315" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentAdvisoryFees" xlink:label="us-gaap_InvestmentAdvisoryFees" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_AdvisoryFees" xlink:label="bx_AdvisoryFees_634718197828692815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InvestmentAdvisoryFees" xlink:to="bx_AdvisoryFees_634718197828692815" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_ManagementFeeOffsets" xlink:label="bx_ManagementFeeOffsets_634718197828692815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InvestmentAdvisoryFees" xlink:to="bx_ManagementFeeOffsets_634718197828692815" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ManagementFeesBaseRevenue" xlink:label="us-gaap_ManagementFeesBaseRevenue_634718197828692815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InvestmentAdvisoryFees" xlink:to="us-gaap_ManagementFeesBaseRevenue_634718197828692815" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="bx-20120331.xsd#bx_TransactionAndOtherFeesNet" xlink:label="bx_TransactionAndOtherFeesNet_634718197828692815" />
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InvestmentAdvisoryFees" xlink:to="bx_TransactionAndOtherFeesNet_634718197828692815" order="4" use="optional" weight="1" priority="3" />
  </calculationLink>
</linkbase>
