Wednesday 20 June 2012

Libyan fund lost $1.75 bln in investments | Reuters

The Libyan sovereign wealth fund has lost $1.75 billion on financial investments in structured products managed by Goldman Sachs and Societe Generale, the fund's chairman said on Wednesday.

Mohsen Derregia, chairman of the Libyan Investment Authority, told reporters in Milan LIA needed to review these investments and how they were managed.

"Then we will talk to the investment houses and see if we can claim a refund," Derregia said.

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