Lawsuits alleging private equity firms colluded in dealmaking are a "bunch of malarkey" and may be politically motivated, the president of Blackstone Group LP said on Thursday.

Tony James also said that he expects the economy to grow faster than it has so far this year, absent any major upsets.

(Reporting By Greg Roumeliotis; Writing by Ben Berkowitz; Editing by Gerald E. McCormick)