Pasquale Barbaro
Pasquale Barbaro (right)Instagram

Heavily armed police have arrested at least five people over the murder of Sydney standover man Pasquale Barbaro.

According to the Daily Telegraph, in a well-planned series of raids, members of the Tactical Response Unit working with Strike Force Osprey which was set up two weeks ago to investigate eight shootings including that of Barbaro, moved in on four or five targets.

The ABC has been told 13 properties were raided as part of Osprey, which was set up last week to investigate eight gangland shootings in Sydney over the past year-and-a-half.

About half a dozen people are believed to have been arrested in today's raids, including four at Sydney's Olympic Park, but police are refusing to confirm details because the operation is ongoing, ABC reported.

Plain-clothes detectives and riot police were seen this afternoon at an apartment block on Australia Avenue at Olympic Park.

Witnesses said at least one man was arrested in one of the apartments and at least another two people were detained nearby.

Officers later emerged from the multi-storey building with bundles of brown paper evidence bags.

Police have also seized a white sedan and said they planned on seizing a number of other cars from the building's basement car park.

Network Seven footage showed several police cars and a heavy presence on Herb Elliott Avenue and Showground Rd in the Olympic precinct while other witnesses reported seeing federal police storming an area around the Ibis Hotel just after midday.

Less than two weeks ago NSW Police Commissioner Andrew Scipione launched Osprey after the bloody executions on Sydney's streets of notorious crime figures.

Gangster Barbaro was shot in Earlwood on November 14 and hitman Hamad Assaad, 29, in Georges Hall was shot on October 25.

In April gangland kingpin and convicted killer Walid Ahmad, 40, was killed in a spray of bullets on the rooftop car park of Bankstown Central shopping centre, with his murder believed to be in retaliation for the fatal shooting of Safwan Charbaji outside a Condell Park panel beater several weeks earlier.

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