Some of Libya’s overseas investments were politically charged months before the current crisis.
The Libyan Investment Authority, which analysts value at $60bn-$80bn, has accumulated stakes in a diverse range of foreign assets, from newspapers and football teams to banks and textiles.
Tripoli set up the LIA in 2006, after UN sanctions were lifted in 2004, to diversify the north African country’s dependence on its oil wealth. The fact it was set up so recently has sheltered it from some of the losses suffered by other Middle Eastern funds.
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