Schwarzman said last quarter alone the firm invested $6.9 billion through its private equity and real estate divisions.
NEW YORK (Reuters) - Blackstone Group LP <BX.N> CEO Stephen Schwarzman said on Wednesday the firm could earn a lot more than estimated earnings of around $1 billion to $2 billion per year, which he said could be "dramatically wrong."
Schwarzman said last quarter alone the firm invested $6.9 billion through its private equity and real estate divisions.
The earnings power through carried interest "is stunning," Schwarzman said, speaking at a Merrill Lynch & Co. banking conference on Wednesday. Carried interest is the profit earned on money invested.
He said the money that Blackstone invests in one year, assuming certain factors, could theoretically yield profits of $8 billion.
(Reporting by Michael Flaherty, editing by Phil Berlowitz)
