Private equity and real estate firm Blackstone Group
The disclosure was made in a letter Blackstone sent to the SEC dated May 9, answering a number of questions about how various awards were determined.
The SEC had noted in a letter dated April 25 that Blackstone appears to use several factors to determine a baseline award for executives and determines an indicative participation interest for each individual executive officer.
These figures are then subject to adjustment by (CEO Stephen) Schwarzman in his sole discretion, the filing reads.
The SEC asks that in future filings, Blackstone details the nature of individual performance factors of each executive.
Blackstone answered in the May 9 letter that these figures are internal measures which are applied to a number of complex individual businesses and partnerships.
It said it took into consideration variables such as fund performance, economic performance and Blackstone's success in hitting strategic objectives.
Bloomberg earlier reported the contents of the letters.
(Editing by Bernard Orr)