Note 27 - Nonconsolidated Variable Interest Entities

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Variable Interest Entity Disclosure [Text Block]

27

. 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 Consolidated Statements of Financial Condition but retained an ownership investment in the CLOs. As the CLOs are VIEs, the CLOs are presented in the nonconsolidated VIE table as of

December 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
	December 31, 2019								December 31, 2018
	Financial Statement				Maximum				Financial Statement				Maximum
	Carrying Amount				Exposure to				Carrying Amount				Exposure to
	Assets		Liabilities		Loss		VIE Assets		Assets		Liabilities		Loss		VIE Assets
CLOs	$	73,266	$	-	$	73,266	$	1,439,442	$	-	$	-	$	-	$	-
Fund investments		10,396		207		14,196		346,206		5,083		-		7,028		224,835
Other investments		4,424		95		4,424		1,140,128		933		-		933		1,176,148
Total	$	88,086	$	302	$	91,886	$	2,925,776	$	6,016	$	-	$	7,961	$	1,439,792