Libyan Investment Authority

Libya US$ 66 Billion
Established: 2006
Transparency Rating: 1
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Origin: Oil
Firm Investment Style: Mixed
Entity Structure: Fund
Population Est.: 6 million – 2013
Wealth Per Capita Est.: $11,000

Summary
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.

Updates – NEW STRUCTURE
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Background
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.

In 1981, the Libyan government created LFICO’s predecessor, the Libyan Arab Foreign Investment Company, for the purpose of investing Libyan money outside of Libya. The entity soon became the Libyan Foreign Investment Company (LFICO). The LIA is currently the sole shareholder of LFICO.

Strategy & Objectives

SWF Asset Allocation

Key Executives and People

Main Office
The Libyan Investment Authority
Tripoli Tower
Borgaiba Street, 22nd Floor
Tarabulus
Libya
Tel: +218 21-336-2091
Fax: +218 21-336-2084

Mailing Address
P.O.Box: 93099
Tripoli
Libya

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Governance
It is overseen by the government of Libya through a board of directors and board of trustees.

Sovereign Wealth Enterprises:
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


Libya Africa Investment Portfolio (LAP), established by the General People’s Committee Resolution 15 in 2006, LAP is owned by the Libyan Investment Authority (LIA), which manages the vast majority of the nation’s oil reserves . LAP is run jointly by the Board of Trustees, chaired by the Prime Minister and LIA’s Board of Directors.

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.

The Libya Arab African Investment Company (LAICO) Real Estate and Hotels
LAP GREENN Network
Oil Libya Holding
TAM Oil Africa Holding
Rascom Star ( RSQ)
LAGECO
LAICO Industrial

Significant holdings include:
OiLibya
Sahel-Saharan Investment and Trade Bank (BISC)
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 Libya Investment Authority.


Major Direct Foreign Investments (Public)

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Major Direct Foreign Investments (Private)
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