Investments (Tables)

12 Months Ended

Dec. 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 December 31, 2022 and 2021:

	December 31,
	2022		2021
Debt	$	-	$	299,990
Equities		43,889		54,040
Funds:
Alternative investments (a)		56,947		49,757
Debt (a)		178,556		164,952
Equity (a)		350,282		375,761
Private equity		53,822		46,589
		639,607		637,059
Investments, at fair value		683,496		991,089
Equity method investments		15,481		16,250
Total investments	$	698,977	$	1,007,339
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,651	$	6,828

(a)

Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 22), with fair values of $24,137, $142,632 and $266,528, respectively, at December 31, 2022 and $18,326, $132,875 and $306,618, respectively, at December 31, 2021, held in order to satisfy the Company’s obligation 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 15).

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

During the years ended December 31, 2022, 2021 and 2020, the Company reported in “revenue-other” on its 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:

	Year Ended December 31,
	2022			2021		2020
Net unrealized investment gains (losses)	$	(92,793	)	$	14,154	$	49,719