Various finance groups have been accused for losses suffered by the $65 billion Libyan Investment Authority (LIA), Financial Times reports. The LIA slammed a $300 million investment with BNP Paribas that lost nearly 25% of its value, while generating fees of $18 million for the bank.
Another transaction involved a $200 million venture with Credit Suisse that declined almost 30%, while generating $7.6 million of charges. Another LIA transaction involved a $300 million investment with Permal and the same amount with Palladyne Asset Management.
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