Anthony Lawler, portfolio manager at GAM's $5.7 billion Alternative Investment Solutions unit, also noted more conversations with investors, but said the interest is preliminary.
"We are having more discussions around energy and the likely opportunities to come out of the recent moves," Lawler said of interest in hedge fund managers who focus on trading the stocks and bonds of troubled companies—so-called distressed managers.
But he noted that the investor money wasn't pouring in yet given uncertainty about the best time to get in. "We are not receiving actual requests for increased exposure to this today," Lawler said.
Distressed hedge funds, among the most likely to take advantage of the energy opportunity, saw just $1.2 billion of new cash from clients in the fourth quarter of 2014, and only $60 million in December, according to estimates from data tracker eVestment. Distressed funds took in $9.3 billion over all of last year.
Read MoreAs oil prices crater, hedge funds dive in
Investment firms are still lining up to meet that potential demand.
Lansdowne Partners, Avenue Capital, Carlson Capital and Blackstone Group's GSO Capital unit are among the firms raising fresh capital to deploy in either long-short energy stock picking, credit investing, or both.
Others in private equity, like Apollo Global Management, Carlyle affiliate NGP Energy Capital Management, Blackstone's private equity arm and Warburg Pincus, either recently completed or are in the process of raising new multibillion dollar energy-focused funds.
"I think this is going to be one of the best opportunities we've had in many, many years," Blackstone CEO Steve Schwarzman said at the DealBook Conference in December, referring to the drop in energy prices and related businesses.
Carlyle Group also expressed interest, even as its energy PE funds were hit with losses last year.
"The single greatest new energy opportunity to invest is probably distressed debt," firm co-founder David Rubenstein said in January at the World Economic Forum in Davos, Switzerland.
Read MorePrivate equity bets on energy 'revolution'—in oil and gas