Libyan Investment Authority: -12.5% Change in Assets Under Management (2019-2025)

What we found

The numbers

As of 2025, the Libyan Investment Authority reported direct financial investments totaling $41.7 billion. This portfolio is composed of $24.9 billion in time deposits and $12.9 billion in equities. Investment funds account for 9.1% of these direct financial investments. Estimates for the authority's total assets under management vary by source and year. In 2019, assets under management were reported at $80 billion. Other sources cite figures of $70 billion and $62.85 billion. As of 2025, assets under management are listed at $70bn. Comparing the 2019 figure of $80 billion to the 2025 figure of $70bn indicates a change of -12.5% in assets under management over that period. [3] [5] [11] [12] [13]

What the plan says it wants

The Libyan Investment Authority states its primary objective as preserving and growing its assets for the generations to come. This goal is explicitly outlined in its official documentation from 2020. The authority also aims to rebuild its investment program with a specific focus on transparent governance, diversification, and professional asset management. These strategic priorities are noted in recent assessments from 2026. Furthermore, the plan indicates an intention to resume a more active investment program. This renewed activity is particularly targeted toward infrastructure and economic diversification projects. The stated intent to grow the authority's assets is a central component of its long-term strategy. However, records indicate that this specific intent to grow has been stated but not necessarily fully realized in practice. The focus remains on establishing a robust framework for professional management and transparent operations. By emphasizing diversification and governance, the authority seeks to ensure the sustainability of its resources. The shift toward active investment in infrastructure reflects a broader goal of supporting economic diversification. These elements combine to form a comprehensive plan aimed at securing the financial future of the Libyan Investment Authority. The commitment to professional asset management is intended to enhance the efficiency and effectiveness of its operations. Ultimately, the plan seeks to balance the preservation of existing assets with the growth of new investments for future generations. [1] [2] [5] [6]

The people

The Libyan Investment Authority employs 154 people. The organization manages a portfolio valued at $70 billion. As of 2024, the authority holds a 15% stake in certain investments. Other reported ownership percentages include 23%, 33%, and 37%. Additional figures indicate holdings of 19.3% and 0.9%. These percentages reflect various positions within the authority's investment structure. [4] [5] [6]

What the fund says

The Libyan Investment Authority describes its strategy through three pillars: rebuilding trust, enhancing governance, and improving investment management according to international best standards and practices. As of 2025, the fund focuses on reinvesting frozen investment assets with a cautious and responsible approach. This new phase aims to achieve sustainable growth, reduce risks, and balance decision-making independence with international commitments. The LIA defines itself as a sovereign entity affiliated with the Libyan state that exercises its duties independently. Its broader investment strategy seeks to preserve and grow assets for future generations. Specifically, the fund aims to protect and develop the value of Libya’s oil revenue reserves while diversifying national income resources away from dependence on these reserves. Additionally, the LIA states that it seeks to invest domestically. [1] [2] [6] [7] [9]

What the press says

Press reports present varying figures for the Libyan Investment Authority's assets. One source cites a value of $67 billion, while another reports $51.8 billion. The authority’s own website lists several percentage figures, including 23%, 33%, 37%, 19.3%, 0.9%, and 12.4%. These numbers appear in different contexts on the site, but the provided facts do not specify what each percentage represents. The discrepancy between the $67 billion and $51.8 billion figures suggests that different sources or time periods may be reflected in the reporting. The percentages from the official site likely relate to portfolio composition or performance metrics, though the specific meaning of each figure is not detailed in the available facts. Readers should note that the exact valuation and breakdown of the authority’s holdings depend on the source and the date of the data. [6] [7] [8]

Where the sources disagree

• The reported size of the fund varies significantly depending on the source, with estimates ranging from $51.8 billion to $70 billion, meaning you cannot rely on a single figure when assessing their capacity or current position. [5] [7] [8] [12]
• What it realized. Asked, and the search found no public statement either way.

Analysis

LIA is currently prioritizing the reinvestment of previously frozen assets with a focus on risk reduction and sustainable growth, signaling a shift from preservation to active deployment. [1] [2]

The fund’s strategy explicitly aims to diversify Libya’s national income away from oil dependence, indicating a mandate to seek non-commodity investment opportunities. [7]

LIA is resuming a more active investment program with specific emphasis on infrastructure and economic diversification projects, which defines the current sectoral focus for new capital. [5]

The fund seeks to invest domestically, suggesting that a significant portion of its new capital allocation may be directed toward Libyan projects rather than purely international opportunities. [9]

LIA positions itself as a sovereign entity that exercises its duties independently, which implies that investment decisions are made with a degree of autonomy from direct political interference, though it remains affiliated with the state. [1] [2]

The fund’s assets under management have decreased by 12.5% from 2019 to 2025, indicating a contraction in the total capital base available for new investments during this period. [11] [13]

Pros and cons for a GP raising capital from this investor

Pros

• The fund manages a substantial portfolio of $70 billion in assets under management, indicating significant scale and stability for a GP seeking a large institutional partner. [13]
• LIA holds $41.7 billion in direct financial investments, demonstrating a deep liquidity pool and capacity to commit capital to new opportunities. [3]
• The investor is actively resuming a more active investment program with a specific focus on infrastructure and economic diversification projects, signaling immediate demand for relevant deal flow. [5]
• LIA operates as a sovereign entity that exercises its duties independently, which suggests a streamlined decision-making process free from political interference for professional asset managers. [6]
• The fund is reinvesting frozen assets with a cautious approach aimed at sustainable growth and risk reduction, indicating a preference for disciplined, long-term value creation over speculative gains. [1]

Cons

• Change in Libyan Investment Authority assets under management from 2019 to 2025: -12.5%. [11] [13]
• The investor’s stated intent to achieve sustainable growth and reinvest frozen assets remains unverified by action, as the facts indicate this is a stated goal rather than a demonstrated operational outcome. [1] [2] [6]
• A significant portion of the direct financial investments is concentrated in low-yield time deposits, with $24.9 billion allocated to this category out of $41.7 billion in total direct financial investments, suggesting a conservative posture that may limit upside potential for external managers. [3]
• The investor’s strategy explicitly prioritizes the preservation of assets for future generations over aggressive growth, which may result in stricter risk parameters and lower return expectations for new investments. [6]
• The fund is in a phase of rebuilding trust and enhancing governance, which implies that decision-making processes may be slower or more scrutinized as it aligns with international best standards and practices. [1] [2] [5]