Libyan Investment Authority
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Country: Libya Established: 2006 US$ Billion: 65 |
Origin: Oil |
Summary:
For decades Libyan reserves from oil revenues was deposited in financial institutions yielding decent interest. In the recent decade, prevailing rates have dropped which has forced the Government of Libya to invest in financial assets with higher returns. The General Popular Committee established the Libyan Investment Authority.
It was established on August 2006 and the assets of the Libyan Arab Foreign Investment Company, the Libyan African Investment Portfolio, and Oilinvest Company were transferred into it. In addition, excess oil revenues are transferred to the Libyan Investment Authority. The fund invests through a number of external managers. LIA may make investments locally.
AUM amounts are prior to 5/17/2011
Long Term Investment Portfolio
Created in 1982, this portfolio of assets is around 10 billion USD. Most of which are invested in portfolios with financial institutions, real estate and cash deposits.
Libyan African Investment Portfolio
The fund has around $5.2 billion USD in capital and was created by the Libyan government in February 2006. It is a sovereign wealth enterprise (SWE) of the Libyan Investment Authority.
Significant holdings include:
OiLibya
Afriqiyah Airways
Sahel-Saharan Investment and Trade Bank (BISC)
LAP Green Network
Libyan Arab African Investment Trade Company
Libyan African Portfolio (Suisse) SA
Libyan Arab Foreign Investment Company (Lafico)
Founded in 1981 and controlled by the Central Bank of Libya, The Libyan Arab Foreign Investment Company (Lafico) is a Tripoli, Libyan Arab Jamahiriya-based investment management firm. The firm focuses on industrial, commerce, agriculture, tourism, and real state sectors and invests globally. They have a branch office in Rome. It has around $1.8 billion in AUM.
Oil Invest Company
This entity controls refineries in Europe and in addition controls around 3000 gas stations in Europe. It has around $940 million worth of assets.
DALIA Advisory Limited
Incorporated in July 2009, it is the UK arm of the LIA.
Major Direct Foreign Investments (Public)
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Major Direct Foreign Investments (Private)
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