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Sovereign Wealth Funds Briefing - Categorized | People, Trends

Libya’s Rival Sovereign-Wealth Fund Chiefs Seek Truce

Posted on 07 September 2016

Management of the frozen $67 billion fund has been the subject of a power struggle between competing governments. Rival chairmen of Libya’s $67 billion sovereign-wealth fund say they want to settle their differences and unify its management, seeking to end a feud that began during the country’s civil war.
The Libyan Investment Authority, or LIA, is suing New York-based Goldman Sachs Group Inc. and Paris-based Société Générale SA for billions of dollars in the High Court in London over failed investments. The chairmen said in interviews with The Wall Street Journal that they want to combine their efforts to cut legal costs and simplify operations………………………………………..Full Article: Source


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