Elsewhere abroad, you can add Libya to the ranks of formidable sovereign wealth funds (SWFs). The oil-rich nation kicked off its $40 billion SWF today, saying that it plans to open offices in London and Tripoli and will invest mostly through Western banks and institutions. The fund’s chief executive says he will invest primarily in real estate and hopes to accrue enough capital to venture into private equity. Well… we’d rather have Libya investing and in the game than stockpiling weapons and harboring terrorists.
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