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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Libya SWF probing losses in $5 bln Africa portfolio

Posted on 27 September 2011

Libya’s sovereign wealth fund, which is conducting a review of all investments made by the toppled Gaddafi regime, has uncovered potentially large losses in its $5 billion Africa portfolio, its acting chief executive said.
The Libyan Investment Authority (LIA), whose assets are estimated at $65 billion, will suspend investments until a new management, including a replacement for Chairman Mohamed Layas, is appointed by the cabinet, Rafik Nayed told Reuters………………………………………Full Article: Source


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