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INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments and Securities Sold, not yet Purchased
The Company’s investments consist of the following at September 30, 2024 and December 31, 2023:
September 30,
2024
December 31,
2023
Debt$51,101 $4,285 
Equity57,798 54,717 
Funds:
Alternative investments (a)59,558 61,680 
Debt (a)150,924 191,325 
Equity (a)304,736 343,139 
Private equity46,357 46,818 
Total funds561,575 642,962 
Investments, at fair value670,474 701,964 
Equity method investments17,937 – 
Total investments$688,411 $701,964 
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(a)Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 21), with fair values of $23,829, $133,925 and $237,687, respectively, at September 30, 2024 and $27,454, $175,449 and $284,099, respectively, at December 31, 2023, held in order to satisfy the Company’s obligation 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 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 nine month periods ended September 30, 2024 and 2023, 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
September 30,
Nine Months Ended
September 30,
2024202320242023
Net unrealized investment gains (losses)$23,050 $(23,879)$23,803 $14,551