The U.K. has frozen the assets of Libya’s sovereign wealth fund, Libyan Investment Authority (LIA), in London, Financial Times reports. About £2 billion of assets belonging to LIA and other entities were frozen, including LIA’s custodian, HSBC, which holds a major part of the seized cash and assets.
The other frozen investments include the fund’s £226 million stake in Pearson and a £300 million property portfolio in London. Previously, the U.K. had seized about £1 billion in assets linked to Libyan leader, Muammer Gaddafi, and his children.
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