Price Matters in Emerging Markets: Schwarzman

Opportunities abound in emerging markets, but investors must remain price-conscious, Blackstone Group co-founder Steve Schwarzman told CNBC Thursday.

Stephen A. Schwarzman
Stephen A. Schwarzman

"You go where the growth is, as long as the price is right," the private equity king said. "We are very price disciplined in what we do."

Leverage remains a challenge in this arena, Schwarzman acknowledged, but economic growth that is "comfortably two to three times" that of the developed world makes investing abroad a necessity.

The energy sector, particularly natural gas, remains particularly attractive for his firm, despite the failure of Blackstone's bid for power producer Dynegy, he added.

Schwarzman, who spoke to CNBC's Maria Bartiromo at the Global Youth Employment Agenda meeting held in London this week, said that "a firm like ours" would currently be allocating 20 percent of a portfolio toward emerging markets.

"Maybe it should be more, maybe it should be less, but it's definitely on the radar screen," he said.