SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BLACKSTONE ALTERNATIVE ASSET MANAGEMENT LP /ADV (Last) (First) (Middle) 345 PARK AVENUE, 28TH FLOOR (Street) NEW YORK NY 10154 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Blackstone Alternative Alpha Fund II [ [N/A] ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) X Other (specify below) Investment Adviser
	3. Date of Earliest Transaction (Month/Day/Year) 09/30/2014
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Shares of beneficial interest	09/30/2014		S		100.36	D	$1,105.72	0	I	See Footnotes(1)(2)(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Blackstone Alternative Asset Management L.P. reported these securities on behalf of its affiliate, Blackstone Alternative Asset Management Associates, L.L.C., an entity with which it is under common control by virtue of both entities being indirect subsidiaries of The Blackstone Group L.P., as detailed in footnotes (2) and (3) below.

2. Blackstone Holdings I-Sub (BAAM) GP L.L.C. is the general partner of Blackstone Alternative Asset Management L.P. Blackstone Intermediary Holdco LLC is the sole member of Blackstone Holdings I-Sub (BAAM) GP L.L.C. Blackstone Advisory Partners L.P. is the sole member of Blackstone Intermediary Holdco LLC. Blackstone Advisory Services L.L.C. is the general partner of Blackstone Advisory Partners L.P. Blackstone Holdings I L.P. is the sole member of Blackstone Advisory Services L.L.C. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/II GP Inc.

3. Blackstone Holdings III L.P. is the sole member of Blackstone Alternative Asset Management Associates L.L.C. Blackstone Holdings III GP L.P. is the general partner of Blackstone Holdings III L.P. Blackstone Holdings III GP Management L.L.C. is the general partner of Blackstone Holdings III GP L.P. The Blackstone Group L.P. is the sole member of Blackstone Holdings III GP Management L.L.C.

4. Information with respect to each of the Reporting Persons is given solely by such Reporting Persons, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

Remarks:

Additional Reporting Owners: Blackstone Holdings I-Sub (BAAM) GP L.L.C. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Intermediary Holdco LLC c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Advisory Partners L.P. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Advisory Services L.L.C. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Holdings I L.P. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Holdings I/II GP Inc. c/o The Blackstone Group L.P., 345 Park Ave New York, NY 10154; Blackstone Holdings III L.P. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Holdings III GP L.P. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; Blackstone Holdings III GP Management L.L.C. c/o The Blackstone Group, 345 Park Ave New York, NY 10154; The Blackstone Group L.P., 345 Park Ave New York, NY 10154.

	/s/ Peter Koffler, General Counsel of Blackstone Alternative Asset Management L.P.	04/07/2015
	** Signature of Reporting Person	Date
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