Note 23 - Nonconsolidated Variable Interest Entities

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Variable Interest Entity Disclosure [Text Block]

23

. Nonconsolidated Variable Interest Entities

    VIEs for which the Company is

not

the primary beneficiary consists of private equity funds, CLO investments, and other investments in which the Company has an equity ownership interest. In the

first

quarter of

2019,

the Company deconsolidated its CLOs from its balance sheet but retained an ownership investment in the CLOs. As the CLOs are VIEs, the CLOs are presented in the nonconsolidated VIE table as of March

31,

2019.

See Note

1

for additional information on deconsolidation of the CLOs. The Company

's maximum exposure to loss from its non-consolidated VIEs consists of equity investments and receivables as follows:

(In thousands)	As of
	March 31, 2019								December 31, 2018
	Financial Statement								Financial Statement
	Carrying Amount				Maximum				Carrying Amount				Maximum
	Assets		Liabilities		Exposure to Loss		VIE Assets		Assets		Liabilities		Exposure to Loss		VIE Assets
CLOs	$	81,329	$	-	$	83,581	$	1,173,722	$	-	$	-	$	-	$	-
Fund investments		4,705		-		6,609		180,435		5,083		-		7,028		204,646
Other investments		3,967		-		3,967		1,238,337		933		-		933		1,235,146
Total	$	90,001	$	-	$	94,157	$	2,592,494	$	6,016	$	-	$	7,961	$	1,439,792