Libyan Sovereign Wealth Fund Files Lawsuit Against JPMorgan Chase
Libya's sovereign wealth fund has filed a lawsuit against JPMorgan Chase in a London court, according to a spokesman for the Libyan Investment Authority (LIA). The LIA has previously brought lawsuits against two other investment banks in London courts, relating to trades carried out during the rule of Muammar Gaddafi.
Libya’s $66 Billion Wealth Fund Replaces Chairman Amid Probe
The Libyan Investment Authority said it replaced its chairman, Abdulmagid Breish, amid an investigation into his role in the government of ousted leader Muammar Qaddafi....
Libyas Sovereign Wealth Fund to Invest to Improve the Country
. The LIA has been busy getting released assets temporarily frozen abroad during the 2011 uprising war.(SABC)...
Libya Wealth Fund to Entrust $11 Billion to External Fund Managers
Abdulmagid Breish, the chairman of Libya’s $66 billion sovereign wealth fund, said it plans to hire external companies to manage about $11 billion of its assets under a restructuring plan. The Libyan Investment Authority, valued at about $66 billion by Deloitte LLP, will split its assets into three distinct funds starting as soon as next year, Breish said in an interview in London yesterday.
Limited Time Offer: Oil and Gas, Agriculture, Infrastructure, and now Energy - Africa has it All
Many economies on the African continent are undergoing a transformative expansion. Recent oil and gas discoveries, along with improvements in transparency and governance, have prompted the opening of...
African SWFs: Protector of Revenue Growth or Just Another Wealth Concentration Mechanism?
Angola and Nigeria are the latest African countries to set up Sovereign Wealth Funds. Many analysts welcome this trend, saying this will prevent Africa's riches from being squandered by selfish leaders, and may produce more intra-African investment. Others warn that SWFs can be notoriously secretive, and may lack accountability for the investment decisions they make.
Libya SWF Sues Goldman Over Derivative Undoing
Libya’s sovereign investment fund has filed a lawsuit against Goldman Sachs in London’s High Court, claiming that the bank made more than $1 billion in derivatives trades that became worthless, but left Goldman with a profit of $350 million.
Major US Investment Banks and Hedge Funds Under DOJ Bribery Investigation
American financial players implicated in scheme to garner favorable deals with Libya’s government-run investment fund....