Libyan Investment Authority Acquired 3.01% of Financial Times Owner Pearson Publishing at $324 Million
Arab Sovereign Funds are becoming more active investing in Media and IT companies around the world, on thursday Libyan Investment Authority (LIA) has made an investment in Pearson Publishing the owner of Financial Times. LIA bought 3.01% stake in Pearson for $324 Million, making it the 3rd largest share holder. Pearson is listed in the London and New York stock exchanges.
Financial Times reported the deal mentioning that LIY’s fund is estimated at 64$ Billion which was mostly liquid last year.
We hope LIA and other Arab Sovereign funds will establish Venture Capital arms and also invest in Arab Startups, rather than just investing only in established International Media and tech companies.