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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Goldman Sachs lost 98pct of Libya’s $1.3bln sovereign wealth fund investment

Posted on 01 June 2011

As civil war roars on in Libya and Colonel Muammar Gadhafi vows to remain in power, reports surfaced that the Northern African country entrusted $1.3 billion through its sovereign wealth fund to Goldman Sachs in 2007, of which the investment bank lost approximately 98%, sparking the ire of Libyan officials.
The fascinating drama includes Goldman offering Libya preferred equity and debt which could’ve made it one of the investment bank’s largest shareholders during the onset of the crisis, as well as intimidation and violent threats by Libyan officials……………………………………….Full Article: Source

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