Update: Evan Rapoport from HedgeCo tells us that his client list is only a "sample" and thus, LogiEnergy wasn't included on said list.

Reuters today reported that troubled business lender CIT Group was offered $1 billion by unknown hedge fund LogiEnergy. According to the report, LogiEnergy was looking to pick up a "sliver" of CIT's oil and gas debt in an effort to boost its Peak Oil fund.

But the entire deal is shrouded in deep mystery. Who is LogiEnergy? We went searching for answers and found that its main corporate website, which is buried within Google, isn't even operational. Their Peak Oil website at www.logipeakoil.com allows you to access no information without signing up. Furthermore, the designers of the Peak Oil website, HedgeCo Websites, have apparently dropped LogiEnergy from their client list and no record of the hedge fund exists on its website:

Asked about the source of the financing, logi's chief investment officer, Lorenzo Ortega, declined to comment.

But Ortega told Reuters, "We have an institutional-class investor that is interested in supporting it." The financing is contingent on CIT accepting the offer.

A spokesman for CIT declined to comment on the proposal. Analysts and energy investors said they had not previously heard of logi.

Ortega said he did not believe the debt offer was a game-changing deal for CIT.

"This is simply a hip pocket opportunity for them," he said. "Those poor guys have a much bigger problems ... CIT has a big chunk of oil and gas debt. We only want a sliver."

Who is this "institutional-class investor" that Ortega offers up to the press? Surely it would come out and announce its plans to purchase $1 billion of CIT asssets if it were serious. For now, LogiEnergy is nothing more than an apparition.