Investments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2022 and December 31, 2021:

	September 30,		December 31,
	2022		2021
Debt	$	-	$	299,990
Equities		39,747		54,040
Funds:
Alternative investments (a)		54,201		49,757
Debt (a)		167,763		164,952
Equity (a)		319,707		375,761
Private equity		41,804		46,589
		583,475		637,059
Investments, at fair value		623,222		991,089
Equity method		15,738		16,250
Total investments	$	638,960	$	1,007,339
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,301	$	6,828

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $23,525, $137,949 and $248,488, respectively, at September 30, 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 and nine month periods ended September 30, 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						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Net unrealized investment gains (losses)	$	(31,093	)	$	(13,736	)	$	(134,091	)	$	5,955