Skip to content
Subscriber Only

Libya’s Unity Government Appoints New Wealth Fund Leadership

  • Fund had grown to be Africa’s second-largest under Qaddafi
  • Split at top of investment authority had imperilled lawsuits

Libya’s government appointed a steering committee to head the country’s $60 billion sovereign wealth fund, where rifts have hindered efforts to unite financial institutions in the fractured North African oil exporter.

The Libyan Investment Authority’s temporary five-member committee will be headed by one of the fund’s former directors, Ali Mohamed Hassan, according to a statement issued late Monday by the Presidential Council of the United Nations-backed Government of National Accord.