Sun, Apr 20, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Goldman Sachs hits Gaddafi in hip pocket

Posted on 03 June 2011

The Libyan Investment Authority, a sovereign wealth fund worth tens of billions of dollars into which the Gaddafi Administration poured the money it made from oil sales, handed over US$1.3 billion ($1.58 billion) to the bank in 2008 with a mandate to invest in foreign currency markets and other structured products.
The deal was struck months before the onset of the financial crisis, and sources close to the bank yesterday claimed that the LIA had initially been uninterested when Goldman told it that the investment had lost several hundreds of millions of dollars………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

 Article link

This post was written by:

VRS - who has written 13908 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930