Libya’s $70bn wealth fund sees thaw in UN asset freeze by year-end

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LONDON: Libya's Investment Authority is expected to get United Nations approval by the end of the year to manage $70 billion in assets for the first time in more than a decade. The Libyan Investment Authority, set up under Muammar Gaddafi in 2006 to manage the country's oil wealth, has been under a United Nations asset freeze since the 2011 revolution that ousted Gaddafi.

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