Investments (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017 and 2016:

	December 31,
	2017		2016
Interest-bearing deposits	$	556	$	456
Debt		6		-
Equities		45,257		41,017
Funds:
Alternative investments (a)		20,993		32,441
Debt (a)		84,077		74,597
Equity (a)		199,618		188,268
Private equity		76,679		122,421
		381,367		417,727
Equity method		-		222
Total investments		427,186		459,422
Less:
Interest-bearing deposits		556		456
Equity method		-		222
Investments, at fair value	$	426,630	$	458,744
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	7,338	$	4,482

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $11,213, $48,391 and $131,893, respectively, at December 31, 2017 and $13,080, $37,869 and $128,219, respectively, at December 31, 2016, 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, 2017, 2016 and 2015, 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,
	2017		2016		2015
Net unrealized investment gains (losses)	$	27,192	$	11,816	$	(19,681	)