Goldman Sachs raising $5 billion-$8 billion for private equity fund: source

Goldman hoped to raise about $500 million from its employees and was aiming for an initial close by the end of the year, according to the source. The Wall Street Journal first reported that Goldman Sachs was raising $5 billion to $8 billion for its private equity funds. The new buyout fund is smaller than previous ones, less than half the $20 billion Goldman raised in 2007 for GS Capital Partners VI, the Journal also reported.