Tag Archives | Libyan Investment Authority (LIA)

Libyan Investment Authority sues Goldman Sachs

The Libyan Investment Authority (LIA), the nation's sovereign wealth fund, is sueing Goldman Sachs in London over investments worth more than $1 billion. The company lost about $1.75 billion betting on structured products in 2007 and 2008, about $900 million of which was with Goldman Sachs, its former chairman said in June 2012. The U.S. […]

Libyan Investment Authority Scores 2nd Lowest

The Libyan Investment Authority (LIA) has scored second-lowest in a world ranking of sovereign wealth funds. The study, by Allie E. Bagnall and Edwin M. Truman, of the Washington D.C.-based Peterson Institute for International Economics, found the LIA to be worse than all funds apart from that of Equatorial Guinea in terms of accountability and transparency. […]

Some LAIP Assets Still Frozen

Ahmed Kashadah, head of the Libya Africa Investment Portfolio (LAIP), has said that some assets of the fund should continue to be frozen. He told Libya Herald: “We want them to be frozen [by the EU]. There are some legal issues that need to be sorted out before we will ask for them to be […]

Ousted Head of LIA Speaks Out

The departing chairman and chief executive of the Libyan Investment Authority (LIA), Mohsen Derregia, has told Euromoney magazine that he was about to appoint lawyers to seek compensation from banks he has accused in the past of causing losses worth billions of dollars, including Société Générale and Goldman Sachs. He says the LIA had identified […]

Ex-LIA Head Moves to Deutsche Bank

Deutsche Bank said on Wednesday it had appointed the former interim CEO of the Libyan Investment Authority (LIA), Rafik Nayed (pictured), as vice chairman for the Middle East and North Africa (MENA). Reuters reports that Nayed will report to Ashok Aram, Deutsche Bank's chief executive for the region, who commented: “We are extremely pleased that […]

Medco says Area 47 Delayed 2 Yrs

Indonesia's PT Medco Energi Internasional has said that production from its Libyan oil and gas project would not commence until 2016, two years behind an earlier target. A company spokesman told Reuters on Monday: "With the new government, we are now making preparations for the construction of production facilities. We have started talks with the […]