Investments (Tables)

6 Months Ended

Jun. 30, 2020

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2020 and December 31, 2019:

	June 30,		December 31,
	2020		2019
Interest-bearing deposits	$	-	$	517
Debt		-		100,000
Equities		39,690		48,521
Funds:
Alternative investments (a)		32,610		16,581
Debt (a)		134,527		113,579
Equity (a)		280,853		218,435
Private equity		35,686		34,362
		483,676		382,957
Total investments		523,366		531,995
Less:
Interest-bearing deposits		-		517
Investments, at fair value	$	523,366	$	531,478
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	10,127	$	12,894

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $9,886, $100,858 and $228,353, respectively, at June 30, 2020 and $9,881, $78,360 and $170,897, respectively, at December 31, 2019, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“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 13).

Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses

During the three month and six month periods ended June 30, 2020 and 2019, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to “equity securities and trading debt securities” still held as of the reporting date as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020			2019
Net unrealized investment gains (losses)	$	43,494	$	7,229	$	(938	)	$	27,152