The Libyan Investment Authority (LIA) announce last Monday (15 June) the financial performance results of its direct investment portfolio for the first quarter of 2026.
The LIA revealed that the market value of directly managed financial assets, including cash assets, reached approximately US$ 51.8 billion, compared to US$50.9 billion at the end of 2025, representing a growth of 1.7%, equivalent to an increase of approximately US$ 900 million. This increase is attributed to a rise in the market value of the equity portfolio by approximately US$ 600 million and realized returns from dividends and interest on time deposits amounting to US$ 307.7 million.
It reported that the direct investment portfolio generated returns of US$ 307.7 million, comprising three diversified investment portfolios: a time deposit portfolio valued at US$ 25.2 billion with returns of US$234.3 million; an equity portfolio valued at US$ 13.5 billion with returns of US$ 72.9 million; and an investment fund portfolio valued at US$ 3.9 billion with returns of US$ 0.56 million.
The institution also holds uninvested cash balances of US$ 9.22 billion, separate from its total directly managed financial assets. These balances arose from the maturity of several instruments and securities, which led to their liquidation and conversion into restricted cash under UN Security Council freezing resolutions.
LIA applying for permission to reinvest uninvested cash balances
The LIA said it is currently working to reinvest these balances in low-risk instruments. Applications for licenses to reinvest approximately US$ 5 billion have been submitted to the local authorities in the countries where the frozen funds are located.
These funds will be invested in coordination with the Sanctions Committee within the same geographic area (within the same countries) to ensure full compliance with international restrictions and the continuity of asset management. This strategic asset allocation aligns with best practices for sovereign wealth funds, alongside a medium-term allocation consistent with the recommendations of the Security Council in Resolution 2769 (2025), which allows the LIA to invest liquidity in time deposits and fixed-income instruments with limited risk.
The LIA reported that the value of indirect assets managed through subsidiaries is US$ 28.2 billion, according to the latest valuation conducted by Deloitte in 2019. The LIA said it is continuing its work on valuing the assets of its subsidiaries for the year 2025, with the aim of updating fair values and incorporating them into the LIA’s consolidated financial statements. The Board of Directors has appointed a consulting firm to support the project, and the project plan will be officially announced by the end of June.
Concurrently, the LIA said it is preparing its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This enhances transparency and provides a complete financial picture for all national and international stakeholders. The LIA said it has completed its consolidated financial statements up to 2022 and is currently working on the consolidated financial statements for 2023. In parallel, the LIA said it is completing the audit of its separate financial statements and its Long-Term Investment Portfolio up to 2024. This, it added, has fulfilled most of the requirements for achieving synchronization between the preparation and auditing processes.
