Investments (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021:

	March 31,		December 31,
	2022		2021
Debt	$	99,845	$	299,990
Equities		53,497		54,040
Funds:
Alternative investments (a)		55,390		49,757
Debt (a)		195,767		164,952
Equity (a)		400,586		375,761
Private equity		48,592		46,589
		700,335		637,059
Equity method		16,167		16,250
Total investments		869,844		1,007,339
Less:
Equity method		16,167		16,250
Investments, at fair value	$	853,677	$	991,089
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	5,726	$	6,828

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $24,201, $164,500 and $333,535, respectively, at March 31, 2022 and $18,326, $132,875 and $306,618, respectively, at December 31, 2021, 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 6 and 12).

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

During the three month periods ended March 31, 2022 and 2021, 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
	March 31,
	2022			2021
Net unrealized investment gains (losses)	$	(40,867	)	$	1,054