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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

Libyan wealth fund mulls hiring external managers

Posted on 22 April 2014

Abdulmagid Breish, the chairman of Libya’s $66 billion sovereign wealth fund, said it plans to hire external companies to manage about $11 billion of its assets under a restructuring plan. The Libyan Investment Authority (LIA), valued at about $66 billion by Deloitte, will split its assets into three distinct funds starting as soon as next year, Breish said in an interview in London on Thursday.
“The LIA is preparing itself to come back to the international fold,” he said. “We will use best-of-breed fund managers, advisers and consultants,” he said, without specifying which companies will be invited to bid for the work………………………………………..Full Article: Source


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