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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, People

Ex-Gadhafi officials remain at Libyan sovereign wealth fund

Posted on 12 September 2011

While the government continuity can be help to stabilize the battle-scarred country, there are many questions about how Gadhafi’s government invested the country’s vast oil wealth. Mahmoud Badi, the person put in charge by the new government to examine the $65 billionLibya Investment Authority, says he is scrutinizing dealings with foreign banks, such as Societe Generale SA or Goldman Sachs Group Inc.
The investments undertaken by the French bank on behalf of Libya lost about $700 million while transactions carried by Goldman Sachs lost $ 1.4 billion. Both banks declined to comment……………………………………….Full Article: Source


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