Dan Freed
Goldman Sachs (GS Quote - Cramer on GS - Stock Picks) has a sterling reputation. The energy sector has been on fire over the last 12 months.
It's a no-brainer for investors: two prestigious funds targeting a total of $10 billion to $12 billion -- one investing in alternative energy, the other in oil and gas and electric utilities -- being marketed by the best-regarded firm on Wall Street. Well, maybe not. One private equity investor says Goldman has contacted him twice -- once a few months ago and then again in May -- to see whether his firm is interested in investing in the funds being raised by Riverstone Holdings. The private equity firm is an affiliate of The Carlyle Group and one of the largest and best-known firms focused on the energy sector. Riverstone has even hired Lord Browne, the former CEO of BP(BP Quote - Cramer on BP - Stock Picks) and an ex-Goldman board member, to give the funds added cache. That Goldman has twice checked in with the investor's firm, however, suggests tepid interest in the fund. The investor's firm has less than $1 billion under management, meaning it is a relative minnow in the private equity world and so not typically subject to such lavish attention when a fund is popular. Moreover, the May email message from Goldman stated that the fund would be closing in June, but so far Riverstone has made no announcement. A spokesman for Riverstone and a spokeswoman for Goldman said their firms had no comment.
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