EQUITY METHOD INVESTMENTS

6 Months Ended

Jun. 30, 2016

EQUITY METHOD INVESTMENTS.

EQUITY METHOD INVESTMENTS

4. EQUITY METHOD INVESTMENTS

Investment in Joint Venture

        On April 1, 2010, the Company entered into a 50-50 joint venture in Moelis Australia Holdings, investing a combination of cash and certain net assets of its wholly-owned subsidiary, Moelis Australia, in exchange for its interests. The remaining 50% is owned by an Australian trust established by and for the benefit of Moelis Australia senior executives.

        For the three months ended June 30, 2016 and 2015, income of $232 and a loss of $33 was recorded on this investment, respectively, and for the six months ended June 30, 2016 and 2015, income of $605 and $279 was recorded on this investment, respectively.

Other Equity Method Investment

        In June 2014, the Company made an investment of $265 into a general partner entity which invests third-party funds and is controlled by a related party, Moelis Asset Management LP. The Company has determined that it should account for this investment as an equity method investment on its condensed consolidated financial statements. For the three months ended June 30, 2016 and 2015, $34 and $228 of income was recorded on this investment, respectively, and for the six months ended June 30, 2016 and 2015, $1,730 and $2,781 of income was recorded on this investment, respectively.

        During the six months ended June 30, 2016 and 2015, the Company received cash distributions from this entity in the amount of $813 and $1,094, respectively.