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

Goldman Sachs declined to comment.

(Reporting by Parikshit Mishra and Arunima Banerjee- Additional reporting by Rama Venkat Raman- Editing by Richard Chang and Bill Rigby)