CONSOLIDATED VIEs

3 Months Ended

Mar. 31, 2025

Variable Interest Entity, Measure of Activity [Abstract]

LFI Consolidated Funds

The Company’s consolidated VIEs as of March 31, 2025 and December 31, 2024 include certain funds (“LFI Consolidated Funds”) that were established for the benefit of employees participating in the Company’s existing LFI deferred compensation arrangement. Lazard invests in these funds and is the investment manager and is therefore deemed to have both the power to direct the most significant activities of the funds and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these funds. The assets of LFI Consolidated Funds, except as it relates to $33,584 and $68,452 of LFI owned by Lazard Group as of March 31, 2025 and December 31, 2024, respectively, can only be used to settle the obligations of LFI Consolidated Funds.

The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the condensed consolidated statements of financial condition consist of the following at March 31, 2025 and December 31, 2024.


	March 31, 2025		December 31, 2024
ASSETS
Cash and cash equivalents	$	135	$	2,456
Customers and other receivables	2,143		97
Investments	115,826		144,878
Other assets	593		1,016
Total assets	$	118,697	$	148,447


LIABILITIES
Deposits and other customer payables	$	388	$	72
Other liabilities	914		295
Total liabilities	$	1,302	$	367