Connect with us

Why SWFs are Important: The Case of Libya

Published

on

Old Map of Tripoli


Libya has gone through a tumultuous revolution. The North African country is in the midst of jumpstarting its banking sector and trying to restart oil operations. Luckily, Libya has a sovereign wealth fund to tap for reconstruction and deep reserves of oil underground to continue to fund it. For some countries, this is why they created sovereign funds.

Sovereign wealth funds have played the roles of savior and stabilizer in the past, just look at Ireland, China, and Kuwait as great examples.

The Libyan Investment Authority (LIA) at the end of June 2011, had around US$ 64.9 billion. The new government also will have access to foreign reserves from the Central Bank of Libya. The total amount of the LIA and Central Bank of Libya’s assets is around US$170 billion.

Cash, stocks, and bonds make up 77% of LIA’s assets, with 45.5% in cash. Some of this cash will most likely be used to finance post-Gaddafi reconstruction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Ascendas-Singbridge Acquires Three Hotels in Osaka

Published

on

Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

BlackRock Contemplates Stake in Eurizon

Published

on

Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

Continue Reading

SWFI First Read, June 22, 2018

Published

on

JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.