BRIEF-Blackstone sees $5 bln limit for LBO financing

Sept 9 (Reuters) - Private equity firm Blackstone Group's BX.N Chief Operating Officer Tony James said the following at a Lehman Brothers conference that was Web cast:

* Private equity can’t currently get bank financing for leveraged buyout deals over $5 billion.

* But says Blackstone has been active in making new investments over the last 12 months, and has committing capital to 27 deals, or $8.7 billion since the credit crunch.

* Says in real estate, Blackstone has been selling assets rather than buying them, but cautious on new investments.

* Sees opportunites investing in distressed real estate but says that cycle is still at an early stage.

* Says been agressively buying leveraged loans across its funds, typically pays 80-85 cents for the loans. (Reporting by Megan Davies)