Investments (Tables)

3 Months Ended

Mar. 31, 2014

Investments Schedule [Abstract]

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at March 31, 2014 and December 31, 2013:

	March 31,		December 31,
	2014		2013
Debt (including interest-bearing deposits of $533 and $516, respectively)	$	7,806	$	8,529
Equities		57,757		59,394
Funds:
Alternative investments (a)		36,321		37,030
Debt (a)		48,207		58,769
Equity (a)		143,115		190,702
Private equity		115,537		114,193
		343,180		400,694
Equity method		8,552		9,488
Total investments		417,295		478,105
Less:
Interest-bearing deposits		533		516
Equity method		8,552		9,488
Investments, at fair value	$	408,210	$	468,101
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	5,330	$	4,045

(a) Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $8,626, $25,520 and $95,933, respectively, at March 31, 2014 and $7,099, $31,515 and $130,481, respectively, at December 31, 2013, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“Lazard Fund Interests”) and other similar deferred compensation arrangements. Lazard Fund Interests represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds (see Notes 6 and 12 of Notes to Condensed Consolidated Financial Statements).

Schedule of Trading Securities Gross Unrealized Investment Gains and Losses

During the three month periods ended March 31, 2014 and 2013, the Company reported in “revenue-other” on its condensed consolidated statements of operations gross unrealized investment gains and losses pertaining to “trading” securities as follows:

	Three Months Ended March  31,
	2014		2013
Gross unrealized investment gains	$	3,084	$	8,395
Gross unrealized investment losses	$	2,593	$	1,636