CMH Role: Main Sponsor and Investment Advisor

Launched in 2007, the Libya Fund (the “Fund”) is a private equity fund established to invest in the energy, healthcare and other promising sectors in Libya. The Fund seeks to build a diversified portfolio of investments through balancing its exposure to sectors, industries and across types of investments and aims to achieve growth through investing in early stage businesses, start-ups, and businesses with a future growth potential. Libya offers immense investment opportunities in view of its strong GDP growth, economic liberalization, serious restructuring efforts, encouraging political developments and the attention given by authorities towards developing a comprehensive private sector. Current Investors in the fund include well known Islamic financial institutions from the Gulf Cooperation Council (GCC).

The Fund established TAB Energy to engage in providing services to Libya’s oil and gas sector.  TAB Energy subsequently acquired majority stake in Etelaf, a firm which primarily provides drilling services for multinational oil companies operating in Libya.  Two other subsidiaries were established by the Company to own and lease drilling rigs.  Etilaf has already positioned itself as one of Libya’s premier oil field services company after having successfully completed work with some of the world’s leading energy companies such as Woodside Energy (Australia), Chevron and Inpex (Japan).  Etilaf has also recently secured works from Sirte Oil Company, a subsidiary of the Libyan National Oil Company, and Gazprom, the Russian energy giant.

Other than the energy sector, the Fund established a healthcare investment arm that will focus on providing healthcare services in Libya.