Investments (Tables)

12 Months Ended

Dec. 31, 2016

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at December 31, 2016 and 2015:

	December 31,
	2016		2015
Interest-bearing deposits	$	456	$	54,885
Debt		-		535
Equities		41,017		44,834
Funds:
Alternative investments (a)		32,441		67,600
Debt (a)		74,597		67,134
Equity (a)		188,268		197,787
Private equity		122,421		100,219
		417,727		432,740
Equity method		222		8,917
Total investments		459,422		541,911
Less:
Interest-bearing deposits		456		54,885
Equity method		222		8,917
Investments, at fair value	$	458,744	$	478,109
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,482	$	3,239

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $13,080, $37,869 and $128,219, respectively, at December 31, 2016 and $10,996, $31,598 and $156,081, respectively, at December 31, 2015, held in order to satisfy the Company’s liability upon vesting of previously granted LFI and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 7 and 14).

Schedule of Trading Securities Net Unrealized Investment Gains and Losses

During the years ended December 31, 2016, 2015 and 2014, the Company reported in “revenue-other” on its consolidated statements of operations net unrealized investment gains and losses pertaining to “trading” securities still held as of the reporting date as follows:

	Year Ended December 31,
	2016		2015			2014
Net unrealized investment gains (losses)	$	11,816	$	(19,681	)	$	(8,568	)